RE:RE:IAMGOLDRR$, I agree with you that the near future is the most opportunistic time for IMG to take over full ownership of the JV. The industry is in the tank, and it was exactly the same situation in which they bought out their company-maker Orezone and became the Essakane mine. That big score is still a legend in the industry. If the market was in a robust stage, MXI would be trading higher than .50 now, or at least after the Diakha results come out.
Where IMG could lose out badly is when MXI raises a relatively small amount of capital ($2 million) and scores big on Karita. And you're quite right, if MXI drills out a good deposit there with 100% Karita ownership, then the door is wide open to other interests coming in. 12 months from now could be messy and expensive for IMG.
On the issue of restricted shares, a hold period may not be applicable. If a takeover is done by way of Plan of Arrangement, then a holding period is not required. Also, a lower threshold of shareholder approval (66.7%) is required. I think that the Plan of Arrangement (which is a court process) method is becoming the preferred method for takeovers these days as the court rarely turns it down.