artemis a takeover target?

I just bought into Artemis today (at 9.4c, go figure- massive losses so far).

Anyway, I've been interested in ARV for a while, have read lots of HC posts on it (thanks for this all), and I had a hunt for some further discussion on Artemis. I just came across this (written at the end of July, 2010, so you might have seen it already):

http://asxstockselector.blogspot.com/search/label/Artemis%20Resources%20%28ARV%29

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Another related company [the author is discussing NGM] is Artemis Resources (ASX: ARV) who are currently focussing on gold projects in Western Australia, their Molybdenum project adjacent to Spinifex Ridge but also have two partly owned tenements in the Tim Mersoi Uranium Basin. The tenements referred to as Tag 2 and Tag 4 lie between the major Chinese National Nuclear Corporation deposit and a Rio Tinto (ASX: RIO) deposit. I believe that Artemis Resources is a company that warrants further investigation for potential investment considering the takeover that has occurred for NGM Resources and the interest in this particular area.

For more information regarding the Tim Mersoi Uranium Basin and the companies operating in the region (including those in this article) I highly recommend the following link:

http://www.stratamodel.com/tim_mersoi.htm

I would also recommend looking at the exploration permit map for Niger link on the above website which gives a great indication of the locations of tenements. Please note that the NGM Resources tenements are shown under the company name Indo Energy, its wholly owned subsidiary.
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Ok, so that's that. now, as an ARV shareholder, I wanted to ask some questions and make some comments. I believe there is an in-specie distribution coming up. It's going to be a return of capital, and there is a choice between staying in ARV (dividend reinvestment type thing?) or having in-specie shares in the new company. Capital returns are often about 10% (ones that I've received are anyway). Has anyone got any clues as to what the capital return will look like in terms of %? I know all we can rely on is the ANN's, but someone might have an idea from working out share ratios or some such thing. :)

Also, do holders believe the ANN warranted the significant share price decline today? I understand that there was a SPP at 5.5c, so all would have profited from that- even at today's bottom prices, but did today's trading look to you like mostly profit-taking, or warranted decline due to the ANN? I would have thought a little patience by sellers could have produced better results, but noone can control what sellers do. I'm also aware of who current shareholders are, etc, so I'm a bit clued in there. As for me, I was an impatient buyer, so I bought too early, but who can know these things? It could have gone the other way. Was the ANN *that* bad? Thanks for your thoughts! :)