why not take them out?

According to EGO's last Annual Report EPW already own 8.34% of EGO and to get to 50.1% they need to get hold of about 2,628.5m EGO shares. So if they offered EGO shareholders say $0.02 (current SP $0.016)the cost would be about $53m to gain control.

With EPW's management skills the value of EGO could well be enhanced significantly and relatively quickly. At this point a decision on selling off the asset in whole or in part could be made.

Unfortunately the timeframe for a t/over versus replacing the Board is very much in favour of the latter IMO. Which has the greater chance of success? Probably the latter if EPW folk have done their homework and we don't get into a protracted legal wrangle. (And if there is a legal battle who will be paying EGO's legal fees?) If sentiment on the EGO thread is anything to go by EPW will bolt it.

In the short term I wish EPW every success and believe that the track they're on is the right one but maybe the longer term win is to take 'em out.