IMR has a number of excellent prospects. They also have a history of half assed follow ups, and frequent dilutive equity financings. They're in slo mo, and need some mojo. They need to get hooked up or absorbed by somebody with a serious exploration budget. I'm also starting to wonder if DNT is a variation of the same theme? Perhaps not with the majors as shareholders (these guys do have some great backers, so I'm still tempted)? Maybe I don't have a clue about exploration, but these outfits seem to be promotions (they're at all the shows, have the analyst paid writeups coming all the time), and need to stick some f ---g holes in the ground (like Friedland for instance). I mean how many years does it take to release a couple dozen serious drill hole results? The little activity at the Patagonia prospect was a dud. And I've wondered where the money goes, cause I don't see much activity. See 11/19/2002:
imaexploration.com
It's a GAG (geology, activity, geologists), without the A. Anybody have any idea, or care to defend or debate this? I'll listen to a good counterpoint.
Hopefully, Navidad is different, undeniably interesting. I've made a little money on IMR, it's still in one of the accounts I handle (mine's gone on the earlier upticks), and goes long term cap gain in April. I imagine I'll sell it then too. Then they finally get serious about exploration and it will double I suppose. |
