up they go !, page-5

Hey guys. Could just be the word spreading, or someone deciding to take a position. I see the aggressive buying stopped at 1m units. Hmmm...

BigU - I do like your theories (and dearly hope Redback are sniffing around - but the reason GRY didn't take a bigger stake (than 19.9%) is that if you hold anything over 19.9% of a listed company you are REQUIRED to launch a takeover offer. Also, the 90% threshold is the compulsory acquisition threshold under the corps law.

That's why you'll find that the majority of takeovers are launched by holders of 19.9% and the offer needs to gain 90% of shares on issue to be sucessful.

Apologies if I'm telling you stuff you already know.

Cheers.