Interesting history:n June 2008 - the Crosby Consortium...

Interesting history:

n June 2008 - the Crosby Consortium (comprising amongst others, Mr Laufmann and Alsons Corporation [Alsons], a partner in the Tampakan Project) announced its intention to make a $1.28 per share off-market cash offer for Indophil (which was subsequently made through the entity Stanhill Resources Pty Ltd). The offer was recommended by the Independent Directors in the absence of a superior offer. Xstrata Copper subsequently announced its intention to match the Stanhill offer. On 23 June, Lion shareholders rejected the proposed sale of Lion’s 17.7% stake in Indophil to Xstrata Copper. Indophil announced its intention to let its offer for Lion to lapse.

I wonder how close they are today? Surely if $1.28 was a bargain then what about $0.15?

I have a feeling that we will see corporate action at some point...when? I do not know!