# IDG - Indago Resources



## Joe Blow (16 May 2009)

Indago Resources (IDG) was previously known as Western Metals (WMT). For previous discussion of Indago Resources when it was known as Western Metals please refer to the WMT thread: https://www.aussiestockforums.com/forums/showthread.php?t=3072

All discussion of this company will now continue in this thread.


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## poortrader (18 May 2009)

ok, can someone please explain where my IDG formerly WMT shares have gone?

they are not visible in my portfolio when i log into my share trading account


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## Trop Beaucoup (19 June 2009)

Takeover attempt by GLI, roughly $1 a share at current GLI shareprice....interesting..................................


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## UMike (19 June 2009)

Trop Beaucoup said:


> Takeover attempt by GLI, roughly $1 a share at current GLI shareprice....interesting..................................



Well thats my break even mark for the latest "WMT" purchases so I 'spose I will be happy about that. :shugshouldersemoticon:


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## Cruizer (19 June 2009)

not too sure if ( take over) is a good idean. any one knows if gold link have a website. i found few links but they are not connected.


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## UMike (19 June 2009)

Cruizer said:


> not too sure if ( take over) is a good idean. any one knows if gold link have a website. i found few links but they are not connected.



I too had a look for it  and had the same
issues.

Interesting enough the first link when was the GLI page from Aussie Stock forums. 

I'd say their track record isn't too great going by that page.


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## bravo (19 June 2009)

interesting article to read,

http://www.wabusinessnews.com.au/en-story/1/73221/Indago-in-proportional-takeover-bid


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## Cruizer (19 June 2009)

dose any one have any info regarding goldlink. what they do, and what will happen ???????????? thanks


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## UMike (19 June 2009)

Cruizer said:


> dose any one have any info regarding goldlink. what they do, and what will happen ???????????? thanks




Like I wrote above,  https://www.aussiestockforums.com/forums/showthread.php?t=770&highlight=gli will give you some idea of their history.


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## rustyheela (20 June 2009)

UMike said:


> Like I wrote above,  https://www.aussiestockforums.com/forums/showthread.php?t=770&highlight=gli will give you some idea of their history.




couldnt be any worse than the fiasco of the last few years, could only lead to positive sentiment, direction, and for long suffering shareholders, some UPSIDE!!


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## Cruizer (22 June 2009)

New Announcement;
http://imagesignal.comsec.com.au/asxdata/20090622/pdf/00962431.pdf

I think it is best not to BUY and SELL till indago board advice, as they have mentioned. 
I also suggest doing some studies regarding GLI strategies, google it and you can find some materials on ASIC site, under company profile info.
My understanding is similar scenario has happened to GLI not long ago.


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## bobdog (29 June 2009)

Article on the Australian today http://www.theaustralian.news.com.au/business/story/0,28124,25703781-5005200,00.html


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## Cruizer (30 June 2009)

New announcements:


http://www.indagoresources.com.au/f...ANIA GOLD PROJECT CONCEPT STUDY ASX FINAL.pdf


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## bobdog (6 July 2009)

http://www.asx.com.au/asxpdf/20090706/pdf/31jfhbx2ypn1h3.pdf

Hard to tell if Goldlinks directors will be able to add value or speed up the poduction process if they dont set out a game plan.
Equally hard to tell if IDG,s current board will stay focused on there latest venture in to gold mining. 
One thing i havent heard anything about is what IDG,s plans to do with there pregold exploration/production plans. Will they carry on exploration of U308, stop exploration and sit on thier assets or divest? I guess only time will tell


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## Cruizer (6 July 2009)

IMPORTANT – IMPORTANT – IMPORTANT 

Finally something arrived to fix this confusion of some, who are commenting in favour of GLI’s offer.
I’ve had my shares with IDG/WMT for the last 3 years.
I have received TWO phone calls from Mr. Paul Pynes; who was simply trying to convince me to vote in favour of them. 
Ok, let’s look at few points. 
GLI is claming that IDG is wasting money on expensive office, high salaries, selling Tin project, moving from Tin to Uranium then to gold and etc...
-With what I have seen in Australia specially WA Directors do get that kind of money, plus do you really think GLI directors will be nice to us and get only little to manage.
-Tin project was present when WMT board started their activities (2005); they sold it simply because there was no future in it, this IS business strategy. (More info early WMT announcements)
-Moving or changing business strategy from Uranium to Gold doesn’t mean that board is confused. If you remember they tried to raise money on 2008 but recession kicked in and killed the market, no one was willing to invest, though gold was the way to add value.
-Besides uranium is still a major asset of the company. 
IDG/WMT board are who used to run WMC (currently owned by BHP) had the same business strategy.
This is why I agree with IDG:
1- Current Goldlink board, who use to be Emerald, took over Goldlink on March 2009 for their $30 m, and destroyed the company (2cent a share). 
2- New GLI board started targeting IDG because IDG top 10 shareholders had average 5%, so it was an easy target. 
3- GLI knows IDG has Gold and other assets. 
4- It’s not safe to see GLI holding 20% + in shares, gaining controls to do anything… 
5- GLI is desperately trying to buy IDG shares on everyday market to gain more votes. 
6- It’s interesting to see how IDG daily trade volume dropped since take over offer by GLI. Most IDG shareholders realised buyer is GLI!
7- 85% drop in share price (currently 2c) is what GLI shareholders are facing in their company; there is no guarantee it’s not going to happen to IDG. How dare they offer 50 GLI for every 1 IDG share? Who is going to invest in such a drastic company?
8- IDG top ten shareholders are known organisations that increased their number of shares over time, if this company wasn’t performing to their top standards they would have been the first to pull out.
I strongly hope we all make the right decision. 
Please do your research wisely, I am not here to take side or save IDG director’s jobs, I just want to save my investment. Don’t let some shell company like GLI to take advantage of our assets. I noticed some shareholders making negative comments about both parties with no LOGIC and understanding of legal system and dirty tricks of master minded law advisers, I hope I am not offending anyone.  
This information is available on the web and you can get more by checking IDG’s new announcement. For those who believe IGL can do better please have a look at few links, you can find all this in Google.
http://www.takeovers.gov.au/content/DisplayDoc.aspx?doc=media_releases/2009/006.htm&pageID=&Year
http://www.takeovers.gov.au/content..._for_decisions/2008/019.htm&pageID=&Year=2008
This is from: www.investsmart.com.au website 
“GLI's investment strategy comprised long-term investments to capture arbitrage opportunities from yield curves in interest rate and commodity markets. However, with the company's business direction now under review, this strategy is no longer being pursued. “

I am strongly suggesting everyone to read the new IDG announcement. 
http://www.indagoresources.com.au/files/announcements/NOM_170809_Consolidated.pdf 

Indago will make it up.
Good luck to all of us


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## THE BUZZ (10 August 2009)

Hi All,
Any reasons for sudden change of Directors??
Is this part of Gold Link takeover or current board abandoning ship??


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## UMike (11 August 2009)

THE BUZZ said:


> Hi All,
> Any reasons for sudden change of Directors??
> Is this part of Gold Link takeover or current board abandoning ship??



My guess is a bit of both.


The phone call Cruizer and I among others got indicated to me that they knew they didn't have the numbers.

Let hope Indigo starts to deliver now that the "in fighting" has ended.


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## THE BUZZ (11 August 2009)

Geez...

great that they only give proxies 3 days to change voting.

seems sus...

should have dumped 20cents ago, round and round we go.


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## UMike (12 August 2009)

THE BUZZ said:


> Geez...
> 
> great that they only give proxies 3 days to change voting.
> 
> ...



And again I got stranded on 69c (or 6.9c in the old WMT scale).

Who knows maybe it'll turn around eventually? 
It'll have to be eventually as I can see no quick fix.


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## UMike (8 February 2010)

"INDAGO RESOURCES AGREES TO SELL ITS TUSKER STAKE TO BARRICK GOLD VIA PRE BID ACCEPTANCE AND OFF MARKET TAKEOVER"

Wow up 71% to 44.5c

wonder if they can hold that value or in crease it.


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## UMike (15 July 2010)

reinstation tomorrow.


About time too.


What do you all rekon will happen?

Alot has happened since it got removed from the official listing.


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## noirua (2 September 2010)

A bit of a forgotten stock are IDG as they buyback nearly 20% of their stock for cancellation. Loaning $15 million for 10% interest and an option to purchase 75,000 ounces of gold for $24 an ounce, cites a new and vibrant management.


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## noirua (9 September 2010)

One of those stocks I find very interesting indeed as it's looking for returns on its cash whilst buying back 20% of its own stock, and on a concerted basis. I like miners that get a good return to pay for the riskier elements and Indago Resources very much fits the bill.


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## noirua (9 September 2010)

noirua said:


> One of those stocks I find very interesting indeed as it's looking for returns on its cash whilst buying back 20% of its own stock, and on a concerted basis. I like miners that get a good return to pay for the riskier elements and Indago Resources very much fits the bill.




Thoughts must be on what now with 16 million more shares to be bought back by IDG. At 46c a share, and where are the sellers coming from you may well ask, and it is this that is stopping the shares from jumping out of the box.

Will the stock price accellerate shortly or have Indago plans to hold-off at a certain price?
What will happen when the buyback is complete?
All this shadows the big plans for IDG by the new board of directors.


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## noirua (12 September 2010)

'In you go' yes INDAGO - cashed up after selling nearly all its mining assets and now in buyback mode; lending cash at high interest rates and stakes in production; and looking for mining purchase options with good returns. New board of directors with a punchy forward looking attitude - a stock for the up and go, give-it-a-go, investor.


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## noirua (29 September 2010)

One of my particular favourites is IDG on the continuing 20% buyback of stock. Has come up from 44c to 50c with about 55% of the buyback complete.


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## Synergy (29 September 2010)

noirua,

It seems odd to me that the buying for the buyback is so consistant, yet there seems to be endless sellers at 50c...

Any thoughts on it?
Makes me think a large holder might be exiting, but no change in sub holder notices yet.


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## noirua (2 October 2010)

Synergy said:


> noirua,
> 
> It seems odd to me that the buying for the buyback is so consistant, yet there seems to be endless sellers at 50c...
> 
> ...




Synergy, 
Quite a lot of investors wonder about the selling but last week IDG bought in very little stock. They could suddenly stop the buyback at any time.
If accurate, the most recent information is that the shares are being bought in at a discount of up to 33% at 50c and IDG have paid an average of 46c a share.
There are several options and one cited on bulletin boards is that the directors may take the company private, but this is unsubstantiated. There are lots of options listed and the directors have good reason to see the company do well.
A very good investment in my view even if you have to buy slightly blind as to whether the company may make a takeover bid for another or not or go for something speculative.
A mining venture that's changing colour and though high risk is quite interesting.


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## UMike (2 October 2010)

You'd think the change of buiness dynamics and the effort/cost of re-registration of the buissness would put any "going private" talk to bed.


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## ScottyOfAus (20 October 2010)

Not sure if anyone can help me. I got myself some WMT shares a few years back. Haven't checked my portfolio in a long time and noticed that they no longer show up. 
Have they been liquidated?
Curious more than anything. Thanks for any feedback


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## UMike (21 October 2010)

ScottyOfAus said:


> Not sure if anyone can help me. I got myself some WMT shares a few years back. Haven't checked my portfolio in a long time and noticed that they no longer show up.
> Have they been liquidated?
> Curious more than anything. Thanks for any feedback



 Really they should be showing up as IDG shares.

remember they have been consolodated in the mean time 10:1


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## noirua (8 November 2010)

ScottyOfAus said:


> Not sure if anyone can help me. I got myself some WMT shares a few years back. Haven't checked my portfolio in a long time and noticed that they no longer show up.
> Have they been liquidated?
> Curious more than anything. Thanks for any feedback




You could try phoning your broker on WMT. Maybe you'll hit lucky and they'll let you have Wal-Mart Stores NYSE:WMT instead.

Indago meanwhile continue with their buy-back bidding a consistant 50c a share and picking up not that much. Consolidation due on 29th November so they may call it a day at that.

Crafty goings on maybe, we'll have to wait and see. Or maybe the board are planning something to favour hmmmmmmmmmmm guess who?


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## noirua (10 November 2010)

noirua said:


> You could try phoning your broker on WMT. Maybe you'll hit lucky and they'll let you have Wal-Mart Stores NYSE:WMT instead.
> 
> Indago meanwhile continue with their buy-back bidding a consistant 50c a share and picking up not that much. Consolidation due on 29th November so they may call it a day at that.
> 
> Crafty goings on maybe, we'll have to wait and see. Or maybe the board are planning something to favour hmmmmmmmmmmm guess who?




Moved up to 51c which appears to be a reluctant move in paying above 50c for IDG stock for cancellation. Looking cheap, maybe, with all that cash and so many options open + uncertainty of course = a long slog buy-back and management decisions on investments to come.


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## noirua (12 November 2010)

noirua said:


> Moved up to 51c which appears to be a reluctant move in paying above 50c for IDG stock for cancellation. Looking cheap, maybe, with all that cash and so many options open + uncertainty of course = a long slog buy-back and management decisions on investments to come.




29th November is a key date, the reverse-split, as IDG new directors move the furniture around whilst shareholders wonder if they're doing that much else.

Look to be willing to move the bid price up a bit to mop up about 5.5 million more shares in the 20% or so buy-back. Still a trickle of willing sellers at 51c and IDG will push this up shortly and may be happy with an average price paid around 50c a share overall. I expect 55c to be the price in ten days time.

I have more confidence in the stock price going on up to around 70c - $1, time frame difficult to forecast, as the directors have loads of options well above todays price to convert.

IDG directors are like other shareholders, they want to see the shares rocket in a cheery mining sector, not all sections however. 

Surely IDG have surprising plans up their sleeves??????????


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## noirua (22 November 2010)

Indago Resources have requested a trading halt in the companies shares pending an announcement concerning a material acquisition.


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## noirua (23 November 2010)

noirua said:


> Indago Resources have requested a trading halt in the companies shares pending an announcement concerning a material acquisition.




Back from Trading Halt and a little glow of sunshine in sad markets. NTA up to 72c from 68c and all the loan saga with Crescent Gold becoming closer to being fully sorted. Increased royalties at 2% against 1.75% and interest payment and repayment on more solid foundations.
Closed at 53.5c up 2.5c - a 25% discount to NTA.


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## UMike (30 November 2010)

OK .... Where did IDG go?

I have recieved no info on why it would of dissapeared of the ASX listings?


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## UMike (30 November 2010)

OK Share consolidation. (again)

Should of remembered resolution 4. :roll:


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## noirua (21 January 2011)

I've now sold my Indago Resources as the buyback is due to end quite shortly and I'm not sure what the directors have in mind next. Could be something really surprising but who knows?


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## noirua (18 June 2011)

noirua said:


> I've now sold my Indago Resources as the buyback is due to end quite shortly and I'm not sure what the directors have in mind next. Could be something really surprising but who knows?




Nothing much happening with Indago! Thank heavens for that, a few say, after the sector receives a right old trouncing. Close to an all-time high and are continuing the very slow buy-back, by gad.

They still have some shares in the UK's AIM:URA after the sale of most of the interest last year. The main transaction was a $15m loan ($5m paid back) at 10% interest, to Crescent Gold, plus gold royalties. Apart from that the directors had a right old snooze - well done them.


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## UMike (28 June 2011)

Dunno about the snooze.

They are going to delist the stock which can't be good news for small share holders.

Very dissapointed with both past and present management. Sold all my freeholding ($6.4) and the $2.5 SPP so I haven't done badly but I belived this company could of been much more.

In delisting is this a psuedo takeover by the major shareholders?


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## silly trader (25 August 2011)

*Can someone help me with IDG?*

Hi All 

can someone help me by explaining what happens to my shares in asx:IDG. i didnt enter the share buy back scheme and still own shares but now the company has requested they be delisted as they have reached thier required amount. does this mean i lose my shares and what should i do from here?


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## skc (25 August 2011)

*Re: Can someone help me with IDG?*



silly trader said:


> Hi All
> 
> can someone help me by explaining what happens to my shares in asx:IDG. i didnt enter the share buy back scheme and still own shares but now the company has requested they be delisted as they have reached thier required amount. does this mean i lose my shares and what should i do from here?




You still own the share. Just that the shares are no longer listed. 

You can still sell your share to someone else, but you will have to find a buyer yourself. The function of the share market is to put all the buyers and sellers in the one place. But now this function is no longer available.

You should still be entitled to the profits and dividends of the company (oops, IDG doesn't pay dividend). IDG has quite a lot of assets on the books but that's no good if the shareholder can't access them.

These factors explain why everyone was bailing out and why the share price fell from $6.40 to $3.50 before delisting.


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## silly trader (25 August 2011)

*Re: Can someone help me with IDG?*



skc said:


> You still own the share. Just that the shares are no longer listed.
> 
> You can still sell your share to someone else, but you will have to find a buyer yourself. The function of the share market is to put all the buyers and sellers in the one place. But now this function is no longer available.
> 
> ...




this compnay has a habit of changing its name and coming back, does anyone know if this will happen again ?


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## skc (25 August 2011)

*Re: Can someone help me with IDG?*



silly trader said:


> this compnay has a habit of changing its name and coming back, does anyone know if this will happen again ?




My crystal ball is in service at the moment. I will tell you when it is returned.


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## Joe Blow (25 August 2011)

*Re: Can someone help me with IDG?*



silly trader said:


> Hi All
> 
> can someone help me by explaining what happens to my shares in asx:IDG. i didnt enter the share buy back scheme and still own shares but now the company has requested they be delisted as they have reached thier required amount. does this mean i lose my shares and what should i do from here?




silly trader,

As your thread is about IDG I have decided to merge it with the IDG thread to keep all the IDG discussion in one place.


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