Hi Guys, One of a quiet shareholder. Always had a feeling IBAERA...

Hi Guys,


One of a quiet shareholder.
Always had a feeling IBAERA  Capital would do some deals, as they have great faith & confidence in the project which is displayed by their continuation of capital spending.

I am okay with this offer as my purchase was in the lows, as the darn thing looked too cheap at 1.4-1.5c.
However, I believe the project is worth north of 5c or even higher.

So my take on what is happening or has happened.

IBAERA Capital sat down with the management for the takeover. Management totally refused this low ball takeover and rejected. No deal being reached.
IBAERA  chose to take the offer in the market and let the market decide. Many people who bought at the low's will tend to sell to IBAERA who have placed a large order at 02.8cents.
IBAERA see great value and wants the whole project for themselves OR they have other parties lined up to take the project(my guess would be north of $100 million dollars).
IBAERA has nothing to lose, as they are prepared to pay 2.8c unconditionally. They will buy up as much as possible before the Directors of the company make their move.
The Directors are likely to strongly recommend "REJECT IBAERA'S OPPURTUNISTIC OFFER"

The Directors will be looking for better offers which they might be successful to get in this bullish Gold market environment. That will force IBAERA to up their offer.
So I think IBAERA will likely increase their offer later on. At 4-4.5c I'm sold.

All the best to the winners here.