This is a progress report. Just the results of their 250kg scale tests. The BD report is going to be huge (however it comes out), and will include comprehensive assay results, mining cost estimates, and recommended mine development. I think that BD will be starting on their collection and analysis tomorrow, but they may have started today. All that tomorrow's report will do is reconfirm the credibility of IPM's approach once again. I think that if the market fully believed what they're doing, the stock would be multiples of its current price.
I also found out that they're projecting the feasability of a 10,000,000 ton per year operation. At .25 oz/ton for $50/oz income, that comes out to $125,000,000 or 5.00/shr. With a PE of 20, that's a $100 share price. OK, maybe this is hopeful, but I'm absolutely convinced they're talking real numbers, not just pie in the sky.
Finally, I don't think they'll announce Pt results in the next couple weeks (I could be wrong). I was told before that when we see the next Pt results, they will be absolutely indisputable, metal-in-hand, multiply certified numbers. I think they've been burned enough on even claiming the truth, and will first build value based on gold alone. Sounds wise to me.
Mike |
