Santa Fe Form 10-Q for the period ending 31 March 2013 filed on SEC on the 10th May 2013 states "the company and IGS do not anticipate that the merger will proceed".
So IGS Directors were aware of this and said "nothing" in there quartely report ending 31 March 2013 announced 1 May 2013.
So IGS shareholders have provided Santa Fe some A$4m by way of convertab note at 6%pa secured by Santa Fe Project and payable in shares over three years in a company looking at going into liquidation ??
What a terrible outcome for IGS shareholders as the main Director Tony Sage runs away from his position in the company per announcement having full knowledge of the above material fact and not letting shareholders know in advance !!
IGS Price at posting:
0.5¢ Sentiment: Sell Disclosure: Not Held
