Charles: Good summary. I believe the recent drift lower in the stock price is due to the delays in the completion of the independent recovery program, the constant attacks on the company's credibility, and the short-sellers. While the public is scared out of their shares, the institutions keep adding to their positions.
Regarding the delays, while I don't like them, I see them as resulting from difficulties in achieving consistency in assay and recovery of the refractory ore. If there were nothing here, as the naysayers would have us believe, we would know by now, IMO. There is no way, IMO, that Behre Dolbear would have particpated in a scam for 3 years. Mr. Charters likes to point out that Kilborn was involved with Bre-X, but Kilborn did not do Chain of Custody on Bre-X ore.
IMO, the most significant press release to date by IPM was on September 29, 1997, when they reported "The independent verification program is complete." This company is about to make mining history, and I am fastening my seatbelt for the ride. |
