continued buying, page-29

Hmmm... I have awoken from my slumber.

Prefer to read posts than write them these days.

Anyway, IDG directors are business men.

They have the power and pockets to privatize companies. For them to be buying here is an issue for me in that if there holdings grow to about 20% they have a sizeable holding and can easily gain support to dislodge the current board.

It really comes down to whether or not investors in the aggregate are happy with the way things are going for PCL.

If PCL directors are offered positions in IDG in the event of takeover they may be happy with a sale, but for me that comes down to how successful directors perceive the current drill.

A takeover at $0.20/share may entice the directors to sell and be set for life.
On the other hand they can take the risk and hold on for the drill and become some of Australia 's wealthiest men.

After 10 years in Kenya, I believe the directors are all in. I can't see them settling for tens of millions, when they stand to make hundreds of millions or even billions. Then again once can never be too sure. If the offer is right and the incentives are right a takeover may be accepted.

I suggest watch closely, but don't stress. $0.10 is better than the $0.02-$0.04 most of us picked up at.

This has always been my issue with directors having so much power. Ultimately we are at their mercy. They are the only ones who can sell us short by accepting a takeover and selling into it for private gain. Otherwise IDG have no chance. Could try and do a Glencore/Talbot type investment company and offer PCL directors significant stakes to join forces.

My honest feeling is that we will get our well and we will either get rich together or sit here crying at what could have been as the share price plummets back to $0.05. I think most of us will still be on a sizable profit at the $0.05 level :)