IMPORTANT – IMPORTANT – IMPORTANT
Finally something arrived to fix this confusion of some, who are commenting in favour of GLI’s offer.
I’ve had my shares with IDG/WMT for the last 3 years.
I have received TWO phone calls from Mr. Paul Pynes; who was simply trying to convince me to vote in favour of them.
Ok, let’s look at few points.
GLI is claming that IDG is wasting money on expensive office, high salaries, selling Tin project, moving from Tin to Uranium then to gold and etc...
-With what I have seen in Australia specially WA Directors do get that kind of money, plus do you really think GLI directors will be nice to us and get only little to manage.
-Tin project was present when WMT board started their activities (2005); they sold it simply because there was no future in it, this IS business strategy. (More info early WMT announcements)
-Moving or changing business strategy from Uranium to Gold doesn’t mean that board is confused. If you remember they tried to raise money on 2008 but recession kicked in and killed the market, no one was willing to invest, though gold was the way to add value.
-Besides uranium is still a major asset of the company.
IDG/WMT board are who used to run WMC (currently owned by BHP) had the same business strategy.
This is why I agree with IDG:
1- Current Goldlink board, who use to be Emerald, took over Goldlink on March 2009 for their $30 m, and destroyed the company (2cent a share).
2- New GLI board started targeting IDG because IDG top 10 shareholders had average 5%, so it was an easy target.
3- GLI knows IDG has Gold and other assets.
4- It’s not safe to see GLI holding 20% + in shares, gaining controls to do anything…
5- GLI is desperately trying to buy IDG shares on everyday market to gain more votes.
6- It’s interesting to see how IDG daily trade volume dropped since take over offer by GLI. Most IDG shareholders realised buyer is GLI!
7- 85% drop in share price (currently 2c) is what GLI shareholders are facing in their company; there is no guarantee it’s not going to happen to IDG. How dare they offer 50 GLI for every 1 IDG share? Who is going to invest in such a drastic company?
8- IDG top ten shareholders are known organisations that increased their number of shares over time, if this company wasn’t performing to their top standards they would have been the first to pull out.
I strongly hope we all make the right decision.
Please do your research wisely, I am not here to take side or save IDG director’s jobs, I just want to save my investment. Don’t let some shell company like GLI to take advantage of our assets. I noticed some shareholders making negative comments about both parties with no LOGIC and understanding of legal system and dirty tricks of master minded law advisers, I hope I am not offending anyone.
This information is available on the web and you can get more by checking IDG’s new announcement. For those who believe IGL can do better please have a look at few links, you can find all this in Google.
http://www.takeovers.gov.au/content/DisplayDoc.aspx?doc=media_releases/2009/006.htm&pageID=&Year
http://www.takeovers.gov.au/content..._for_decisions/2008/019.htm&pageID=&Year=2008
This is from:
www.investsmart.com.au website
“GLI's investment strategy comprised long-term investments to capture arbitrage opportunities from yield curves in interest rate and commodity markets. However, with the company's business direction now under review, this strategy is no longer being pursued. “
I am strongly suggesting everyone to read the new IDG announcement.
http://www.indagoresources.com.au/files/announcements/NOM_170809_Consolidated.pdf
Indago will make it up.
Good luck to all of us