I've said I'd hang on even if they tried to privatise it but it...

I've said I'd hang on even if they tried to privatise it but it looks like they are getting close to reaching the 90% compulsory acquisition level in any case. The last form 604 had QGold at 88.96%.

The question is what does the law say about the price that needs to be offered under compulsory acquisition if they reach that level by stealth and not via a currently open and unconditional takeover?

I noticed that one of the directors has been buying on market at 34 and 35.5 cents recently. Pretty strange move should the company be privatised which has always been threatened. It would seem on face value from these purchases that the compulsory acquisition price might be higher than this level or why else do it. Is the director buying in cohort with QGold to get to the threshold because the law somehow doesn't allow QGold to do it without consequences for the price it must offer under compulsory acquisition rules.

This company is another example of why the gold sector is a complete basket case. Please review the findings of the takeover panel if you don't believe me. Esh