Bbarns,Personally, I think not, but if Spherichrome impacted...

Bbarns,

Personally, I think not, but if Spherichrome impacted Iluka's markets it could force their hand, either buying it and curtailing or even shutting production, or selling spherichrome to the foundry industry as an alternative and re-directing their Zircon back into the ceramic industry.

From a shareholder point.
The two biggest holders (Sentient and Macquarie) know they could have a 10 bagger (at this price), remember they have some serious technical personnel working in these camps and they just poured in millions into the last rights issue, so they still believe it's the real deal. Add in the CEO's 6%, it totals nearly 60% of the shareholder base. These three won't let this project go cheap, and for it to be successful takeover, you would need them all and quite possibly Contango Microcap to throw in their stock

Another very important point is that Iluka have not bought another company for 11 years. They haven't even put money into another project anywhere in the world. There focus has been in their own backyard, and listening to David Robb at the AGM, they are doing some serious drilling within their our tenements, specifically land adjacent to Jacinth Ambrosia.

But every company is fair game, and IDM at 7.2c is pretty damn cheap for a project that is built and operating. Should be noted that Wayne Knott the new COO was the head man at Iluka's Florida operations and by all accounts a very slick operator.

Dan