looks too good., page-2

The takeover is not guaranteed. But I think everyone agrees that it is in both company's interest for it to happen. It is certainly in the interests of IGR shareholders for it to happen!

I doubt that the chain of events leading up to the merger offer would have happened if the major holders in IGR hadn't been sounded out in advance, and their concurrence received to go ahead.

I think the only real obstacle to the takeover going ahead is if a counter offer is received. And that will have to exceed that offered already by SLR. Nothing in recent trading indicates one is coming. If it was, I think you would see IGR increase in price above that offered by SLR.

And you are right, the sell down prior to the capital raising stunk like hell!

For IGR shareholders, the main benefit of the takeover is having the IGR board replaced by the SLR board, and that board is headed by Les Davis. He's proved himself already! No IGR board members will be offered a spot on the SLR board.

This whole sorry business just goes to highlight that a top notch geologist does not necessarily make a good Executive Director.

Finally, the fact that there is debate on which company gets the most out of this takeover deal, probably indicates the offer is fair. So again, no real reason for it no to go through in December. But thats a few months away and anything can happen in the meantime.

cheers