Hmmm... dont think Chris threw in the towel on WGO. He has bought a significant stake without triggering a takeover, which is a shrewd move. I was never convinced he wanted all of WGO, just wanted a strong partcipication in the projects next door to the centre piece jewel, NWE, which is trying to steal from me and other shareholders (I also own WGO to about the same level, so I have no benefit in calling NWE a jewel other than stating a fact I see). 20% will be a deciding vote when the rangling on who owns what gas, and the direction of that gas to customers. Chris wanted a big say in ALL East Perth Basin projects, he is achieing that for MIN. He paid over the money Gina was offering on market for WGO to get most of his stake 20%.
WIth ESS, nothing is going to happen till the outcome of the Foriegn Investment Board and Jim. No need to rush for Chris, their hasn't been to many acceptances yet. Buying above 50c is accomplishing 2 things:
(1) signalling to shareholders somebody else is interested, dont sell your shares yet. If you do sell, sell them above the offer so IGO et al, can't buy, keeping those shares out of their hands.
(2) Chris (and /or others) able to accummulate shares to a level and not report, which would trigger a frenzied price.
All speculation.... but I can the force from Chris
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