Before this over it may morph into a scrip bid or combination of...

Before this over it may morph into a scrip bid or combination of both.

They are hammering out scenerios now.

Bottom line is its 40 cents cash if paid in one hit, 40 cents plus interest if staggered, and a darn sight more if its a scrip bid.

A good scrip bid would be smooth for IGC shareholders that want to stay in long term and believe their company is currently worth more than $60M (unlikely). You can just keep holding until the cows come home and you wont know the difference. You will make as much long term holding scrip in a merged company.

One thing is for sure this JV is going nowhere unless these two companies come together and become just like Xstrata require.

What we dont know is whether they will sort this in days, weeks or months.

I guess we will get to see if the Black empowerment group can pay up for their oppies eh?

We'll need some short term patience.

Clearly Sage got ahead of himself here telling everyone it was locked and loaded. He'll further annoy those that are already chomping at the bit.

Relax though, good money will be made here.