<div id="subtitle">Kinross Gold reveals letter of intent to purchase joint venture property in Alaska from junior partner</div><div><p>Teryl Resources (TSX: V.TRC, Stock Forum) shares raced 37% to 31.5 cents. </p><p>The company’s shares were on fire Tuesday as it announced that its subsidiary, Teryl Inc., received a letter of intent from its joint venture partner, Fairbanks Gold Mining – itself a subsidiary of Kinross Gold (TSX: T.K, Stock Forum) , to acquire Teryl’s interest in the Gil Joint Venture in Alaska. </p><p>Posters wanted to know what the offer would be. Irulecrap said $100 million should be the minimum. “Everyone low balls the first offer anyway.” </p><p>But beerbreak1 disagreed, saying that for the 20% stake, 100 million is too high an offer. “more likely 40 to 50 mil that would be fair market value...Thats why were [sic] stuck at .32.” </p><p>scoutaz2003 argued that the most valuable asset for the Gil Joint Venture is its proximity to another Kinross project. “I say we have a three million ounce deposit. IMHO “Because of the proximity to the existing mine that is running out of material...we have a very unique situation. You can't move the existing mine.... “so the in ground gold is worth 50% more because it is near the mine. “So $150 in ground gold for 3 million ounces V .20 = “150 X 3,000,000 = 450,000,000 X .20 = 90,000,000 “so ninety million dollars. “90,000,000/ 40,000,000 million shares = 2.25 per share. “So lets not sell this thing short.......” </p><p>And landle was in full agreement. “If Kinross wants it all then that is a good guess. At $1,000 oz that's $3 billion. That 20 % is $600 million. A $100 offer isn't out of the question.” </p><p>Thebeek02 further speculated on what future moves by Kinross. “There are a number of claims in this area that I feel certain Kinross must tie up in order to expand fort knox accordingly. Gil has it,s own quickly developing reserve #'s. but Teryl also have proportionally much larger nearby claim positions that will have to be locked up for Kinross to expand. Sooo what,s their budget on the bigger picture, as their check has to reflect more than the 1 - 2 million ozs. at Gil!
Don't you think?” </p><p></p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=63635453&bid=informcom" /></div><div id="copyright"><div>

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