Nightstalker: If they would sell off some mines because tehy are "not as good as claimed by the previous directors" for a cheap price to some distant relative then they would not want more shares than absolutely necessary for taking over control. Also if they merge the company at a later time - when IDG is low enough because everybody has sold out frustrated - "to streamline their positions and improve structure" they do not need more % of the company now.
Note: I am not saying, that this is what they are going to do, but it would explain most of waht is going on: - no clear statement from the new management - strange, very stringent 10% bid - and earlier the urge to takeover a company very fast although its management "had done everything wrong".
I must assume you did the right thing in getting out early!
IDG Price at posting:
34.4¢ Sentiment: None Disclosure: Held
