I suspect that it is no coincidence that Indrustria started to move once the takeover of Ammtec (AEC) by subsidiary Campbell Bros was accepted by the AEC board. It was a long and hard fought battle, with AEC board only giving in once price increased (effectively) from 3.50 (from memory) to $4.06 (final price complicated by AEC ordinary and special dividends). Price just before first takeover offer - $2.50.
This is relevant, as IDL and AEC both small and are in the same broad business of providing support to mining companies. I certainly became interested in IDL after such success with AEC. I suspect that others are changing over using the funds received from Campbell Bros (there is also a script offer).
IDL Price at posting:
$1.26 Sentiment: Hold Disclosure: Held
