Kiwi, as U123 has pointed out this would be readily traceable....

Kiwi, as U123 has pointed out this would be readily traceable.
U123 has also pointed out that that Manipur etc can track Kin's accumulation very quickly throuh reporting requirements and can adjust there own accumulation accordingly.
At this point the numbers show that Kin would need to buy out ~65% of minority holders which would appear impossible on face value.
It has become a waiting game for now.
Kin will either accept they got close and close the takeover so they can try again sooner.
or they will keep extending the offer in hope of wearing down holders which would appear unlikely at this point.
It's clear from the announcements that Kins recent increased holding is minuscule in terms of what they still need.
A sudden jump in holdings would indicate a readily traceable link that Manipurs lawyers would find quickly.
Being caught doing something like that would ruin reputations all round and not something I would envisage Kin risking.

I also gather that Manipur is comfortable that their associates including U123 have a blocking stake already. or are close enough that a significant portion of other holders would have to capitulate.
In terms of then running out of money to buy more. I would point out that they received ~$55M from the sale of TIC Group, a portion of which clearly went to their SMSF which are now being used to buy shares.
Im sure they could continue to accumulate, and at a higher price if required.

Let's hope pact in the mean time start getting the new facilities operating and revenue pouring in. a bit of good news could go a long way in the SP jumping.
Especially given the gains of the wider ASX while PGH is tied down by this offer price.

Here's hoping.