Ann: Awaking a Sleeping Giant as High-Grade Results Continue, page-128

That's true, in any day you can see Delphi slowly accumulates the shares but in the mean time to suppress it from going too high.
I don't expect Delphi will launch a full cash takeover bid, but strongly believe they could facilitate a NST-SAR style merger with another gold miner when time is right.

Another good drilling result will easily send the share above recent high of $2.30