Ann: Trading Halt, page-34

***A bit of history, and some wild speculation****

I was just checking changes in Directors Interests, and I can't find one for Jonathon Downes for the $15,000 offer.
Did he take up the offer?

JD purchased $2,400 worth of shares on market on July 24th (before the SPP closed), but where is the indication he took up the $15,000 offer statement?

Danny Segman's initial 5% was announced Oct 17th 2017, and the next IBG capital raising was in January 2018.
Neither Nyrstar nor Singpac (Glencore subsidiary) participated in this, and they were diluted as a result. Singpac also sold some shares, reducing their holding further. The results in March 2018 saw Singpac reduce from over 19% to 6.91%, and Nyrstar go from over 26% to a bit over 15%

A Nyrstar director resigned in July 2018, and their chosen replacement was appointed without challenge by IBG
A Glencore director resigned in October 2018, and was not replaced, leading to the dispute which has just been resolved.

Segman has added to his holding continuously, to the point that he is now the largest single holder of stock - more than Nyrstar's 97 million.

Danny's investment would probably be down millions in value from what he paid, but he likley knows exactly what he is doing.
Posters on HC seem to believe that he would not have the resources to develop the project, which, if true, means he intends to JV with the ultimate developer, or he intends to sell his holding to the ultimate developer.

I think that there are hidden issues that are driving the lack of action on what is by any measure and extraordinary resource - may be something like contractual terms between Glencore and IBG back at the time they signed the multiple agreements (global marketing, etc) that preclude a hostile take over . If this is correct, this might explain why Glencore has been sitting on it's hands - because it has no interest in helping IBG become an independent mining house, and yet it cannot launch a take over itself.

I wonder whether Danny is acting in both his own interests, and the interests of another party.

Will a takeover be launched by someone who is not bound by prior contract terms - only to then sell to the ultimate developer?