IDG - Indago Resources

[UMike]

reinstation tomorrow.


About time too.


What do you all rekon will happen?

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

 

[noirua]

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.

 

[noirua]

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.

 

[noirua]

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.

 

[noirua]

'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.

 

[noirua]

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.

 

[Synergy]

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.

 

[noirua]

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.

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.

 

[UMike]

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.

 

[ScottyOfAus]

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

 

[UMike]

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

 

[noirua]

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?

 

[noirua]

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.

 

[noirua]

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??????????

 

[noirua]

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

 

[noirua]

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.

 

[UMike]

OK .... Where did IDG go?

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

 

[UMike]

OK Share consolidation. (again)

Should of remembered resolution 4. :roll:

 

[noirua]

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?

 

[noirua]

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.