I have said for some time that Mr Sage is a snake - and i sold...

I have said for some time that Mr Sage is a snake - and i sold my original parcel of IGC some time ago (look back over past posts for evidence) - although now, at these prices, with the evidence at hand, it now seems to be a relatively low cost pick up.

Certainly, for the ST, it seems pretty easy money - even at 40cps low side. The obvious a ptoential risk is if NKP dont pursue their opportunity, it will provide someone else a blocking stake. But this can also be an opportunity - I think however, on the balance of probabilities,this is now a good buy again - so i have taken a stake.

More importantly to me, however, in light of what is going to happen with IGC, i have taken a much bigger stake in NKP and will look for the obvious next major play here. There are multiples to be made on this stock with even a small outlay. Xstrata are looking to spend $1.6B for a 50% share of a project in which the other 50% belong to Directors and professional external Advisors (Argonaut) who have the right to exercise a large portion of options at 90cps - if that doesnt scream a buy - nothing will to people.

Gold (and precious metals) are a natural hedge in these tough times - platinum is in short supply - Xstrata will think long term and have a perfect opportunity to just buy this company outright at these pathetic prices and it is a NO BRAINER that as soon as NKP have their 50%, Anglo will want their strategic share (that they previously owned) back. Watch this space............