oz,Thanks for your post. I realise that there probably wasn't a...

oz,

Thanks for your post.

I realise that there probably wasn't a long lead up to IVA's decision, and that certainly could have affected the ability to make a decision - especially when you combine with the longer timelines of doing a buyback & the uncertainty that the vendor may shop the deal; unless there's a pre-agreement or some sort of option in place & the uncertainty of the market at a future date (ie; the inability to negotiate instruments until that future date).

I agree that an Insto taking IVA's parcel would have done so at a serious discount considering the end of the market we're in, the overall market, locking in some profit at the point of purchase, and other unforseeable factors. Any Insto considering a transation with the influence of Exco could be seen as not fulfilling the Spencer v. Commonwealth criteria.

If there was a longer lead time there would have been more ways to skin the cat ... without having to dip into the black arts bag!

On the positive side tho it has probably brought some market attention and strengthened valuation to the Company.

I'm looking forward to the next scheduled Roadshows:-

Mines & Money Australia (Sydney) - 15-17th October

Mining Resources Convention (Brisbane) - 27-30th October

Hopefully GL & others will be in a position to attend & talk in an historical/past-tense of a takeover!