Eric: Unlike the 121 holes from which we got the average of .046 and .09 Au and Pt respectively, we do not know what they sent Creelman and to what extent this was representative. So right now you got to use the average given before. In the prior post I have tried my hand at an initial valuation of IPMCF, and would appreciate your comments. By the way, in traditional extraction, palladium causes quite some problems when extracted (if not fully extracted it leaves behind a slightly explosive concotion, some people have been hurt before, but now, I think they now the problem).
When you look at this company look at how they manage their available cash. In comparision with GPGI, they certainly burn a lot of green stauff (and I am not talking about $5,000,000 for 121 holes only, which comes to $40,000 per hole) but their administrative costs are quite high (burn rate of about $1.2 MM/year, which I think is three time what GPGI is spending, and they are already producing stuff).
In this business you must first guarantee survival, otherwise, you can expect many more dilutions and reverse splits in the future. I am not yet convinced this one will fly.
Zeev |
