ubs move to 15.5% holding, page-88

700 000 shares

will pick up another 300k if we hit 25 cents....


i dont understand palas motives of a takeover, i would have thought a takeover would of been more benificial to avo and pala if it was done several months ago prior to igr finance agreements and share sp dilutions, all they needed to derisk the project was done back then, with native title , envorimental impact studies completed ecetra.... obviously at that time avo were preoccupied with a dio bid and perhaps they wanted to cement that t/o target first so that dios mill will be in their ownership for igr ore to be treated at dios mill, of course this hasnt happened now so its all a bit up in the air atm until something can be sorted with the opposiing rms bid of dio.

our sp has sat still.. i think there are three combinations of why,

1. capping of price, and longer this goes on the less patience and frustrated will sell down to the asking price. the irony is that its easier to accumalte a share that looks like a dog by the fact that the price isnt appreciating as along side its peers.. traders stay away, mid to short term investors get frustrated and leave the register to look for the other goldies that are moving... if the other goldies were not moving people wouldnt feel the frustration in igr's lack of sp appreciation.


2. spp selling at a small profit , as already said this can take several months to wash through

3. because even though gold has gone up and many gold shares of either explorers with lots of excitment and potential upside or gold miners that are directly affected by gold price and profits .. igr is at the inbetween stage of the two, so from my point of veiw i have always seen igr as a hold and acumalate up until they pour. (i have noticed this happens to stocks that are going through the explorer to mine stage)

an avo script bid... well igr hasnt lifted with the price of gold but avo sure has, if avo goes to 2.50 (easily done to manipulate upwards too prior to a script offer) then a script offer of 65 cents wouldnt be out of the question i think.. with the 600 million plus shares a dollar would be wishfull thinking. 65 cents is roughly 3.8 shares to one avo share and aprox 180 million new avo shares. if i can accumalate in at 25 cents i would be happy to have more than doubled my gains.

anyhow thats my thoughts... dyor and so forth....