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IDG, INDAGO RESOURCES LTD
ShareScene.com
post Posted: Oct 11 2011, 01:00 PM
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Delisted on 29/08/2011 following the request from the abovementioned company to be removed from the official list of ASX.

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ShareScene.com

 
stoffell
post Posted: Oct 10 2011, 11:20 AM
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surely what they do is illegal--if not it should be.
Got a letter this week -see i'm getting $6 for each share.
Well if anything i've learned one big lesson, if pynes et al are involved run amile

 
defor
post Posted: Jun 16 2011, 09:03 PM
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In Reply To: NightStalker's post @ Jun 15 2011, 10:13 PM

Vote themselves huge salaries - I think you are too right !!!

Executive Director, Indago Resources Limited1313AgeTotal Calculated CompensationThis person is connected to 13 board members in 5 different organizations across 8 different industries.

See Board Relationships38A$6,049,619
As of Fiscal Year 2010



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"The less you do - the less you want to do"
"The more you do - the more you want to do"
 
NightStalker
post Posted: Jun 15 2011, 10:13 PM
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In Reply To: defor's post @ Jun 15 2011, 08:46 PM

And now they're delisting. Which means they can either continue to carry on business but not be bound by ASX rules (they ARE bound by ASIC rules). Or they can vote themselves huge salaries, then deregister the company, in which case all outstanding shares and options are rendered totally worthless.

It also looks like now that they have almost achieved "mission accomplished" on IDG, their next target may be PCL - they just took a 9.1% stake in PCL, under the IDG umbrella. Just like they took their stake in IDG under the BIV umbrella.

All sounds depressingly familiar, doesn't it? Corporate raiders and parasites at work...!



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Regards, NightStalker

Algorithmic trading, and HFT are rendering Technical Analysis null and void.

Said 'Thanks' for this post: wasabibarako  
 
defor
post Posted: Jun 15 2011, 08:46 PM
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In Reply To: Billy Greedy's post @ Mar 7 2011, 05:19 AM

It appears the money in the bank from sales of the assets is being spent on salaries. Soon there will be nothing left!



--------------------
"The less you do - the less you want to do"
"The more you do - the more you want to do"
 
Billy Greedy
post Posted: Mar 7 2011, 05:19 AM
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anybody holding these or just selling back to the company ?! ...curious myself so holding a small free carried parcel...

 

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stoffell
post Posted: Jul 14 2010, 06:47 PM
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I agree with nightstalker. Everything has been sold , some assets given away and a dubious $15 million loan. I
think i can kiss my money goodbye

 
Billy Greedy
post Posted: Feb 9 2010, 06:48 AM
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In Reply To: NightStalker's post @ Jan 8 2010, 09:51 AM

at least they're getting some value out of the assets don't like seeing companies broken up but they seem to have some clue

 
NightStalker
post Posted: Jan 8 2010, 09:51 AM
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Sorry for the delay in responding.

When I said that IDG was dead, I was posting just after it went into suspension, having basically stripped all the assets and either sold them off or spun them off. All they're sitting on is a shelf company with some cash in the bank. Don't know how long that will last either, but I can't preempt anything there.

Basically, WMT/IDG has gone from an exploration company with some promising prospects, to an empty shelf company that is now being turned into an "investment vehicle". Just like GLI was...!

I didn't anticipate that the suspension would be so short - I don't know why they didn't just call a trading halt! But apart from that, what has IDG got left that is of ANY value to current holders? Which I'm not, by the way - I baled out ages ago, and posted as such (just by way of disclaimer).

You have a board which has already changed, with the new board that was voted in by holders (not me) that now no longer exists. One jumped ship almost immediately the deed was done....! To me, that smacks of deliberate deception, as the new board were voted in largely on the names of the board members, like Simich and co. All now gone. Funny that!

All the potential prospects have gone, and IDG is an empty shell - what exactly are you holding shares IN? Cash in the bank? That is going to be used as a vehicle for investment in other exploration companies?

Obviously the market doesn't rate the outlook very highly, but I'm surprised that the price has held up even to the current levels. Perhaps people are still living on hope that they will get some sort of return on their investment - and pigs are lining up on the runway...! wink.gif



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Regards, NightStalker

Algorithmic trading, and HFT are rendering Technical Analysis null and void.
 
noosaman
post Posted: Jan 8 2010, 09:40 AM
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In Reply To: NightStalker's post @ Jan 4 2010, 10:54 AM

But IDG is dead, and the value of current shares would seem to be zero, with the company being suspended

Stalker Why do you give a zero value to the shares when they have an assett backing of around 40c a share.

The market does not recognise this either with them trading @ 29c - I hold and would appreciate your reasoning

Cheers

 
 


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