i hate pala, page-13

Thanks bball.

I see in an ASX announcement released this morning that Pala has increased its holding in IGR from 61,421,213 shares to 81,581,213 shares over the last week.

How could they pick up 20 million shares so quickly at such bargain basement prices?

With a strong gold price and a strong market for gold equities how is it possible this buying demand did not significantly push up the IGR share price? That's what normally happens.

It's interesting that the announcement says this increases Pala's voting power from 10.56% to just 11.79%. I didn't realise that 20 million shares is only 1.23% of IGR's issued shares - that would mean over 1.6 billion shares would have to be issued!!!!

That's about 150% more than IGR's issued capital.

Maybe that's given us a look in advance of the maths Pala intend to use should they make a take under bid for IGR - we get an offer that needs to be increased by 150% to fairly price IGR at this point in time! lol