Hi RayI was only thinking the same thing yesterday (and probably...

Hi Ray

I was only thinking the same thing yesterday (and probably many others were also).

IGC becomes a shell company worth 39 cents per share (after options converted) and trading at 22c/s. Crazy hey. But as you rightly pointed out, no assets, nothing to continue as a going concern. What can TS buy that is actually valued at nothing but worth something.. He will be running out of time with stocks making a nice recovery.

Not much you can buy nowadays with $60mill.

I too also believe that you need shareholder approval if you are selling your MAIN asset. Of course the Tubatse project was their ONLY asset, so expect to see an EGM for voting.

I suppose they had approval by BEE.. to do the asset sale as opposed to the takeover, so maybe they will have enough of the voting power to get this over the line, without the votes of us lowly shareholders.

I think that if TS didn't have anything in mind already, BEE wouldn't agree to having their $6mill of shares (after option conversion) just sitting there not making them money, so expect this to play out in the positive. However having said that I lost money in CFE even after the share and dividend return and yes, the share price has not fully recovered from the excitement of the I/O sale to the chinese.

So in summary from my meanderings...
1) I would have preferred the cash in my pockets also.
2) Yes, they should need a vote for the sale.
3) Something is definitely going on behind the scenes.
4) whether it will actually amount to something, who knows.
5) Am I disappointed? YES.
6) What can we do? NOTHING but sit and take it.. Bit like CFE and GFE holders....
7) Don't invest in Cauldron energy (or whatever they call themselves)

Cheers all, and ONCE AGAIN.... Waiting, waiting, waiting.