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Gold/Mining/Energy : IMA Exploration (VSE:IMR) - IMR.V
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To: Ralf Kovic who wrote (395)8/29/1999 1:15:00 PM
From: Alexei Nabukov  Read Replies (1) of 520
 
Ralf,

I was wondering if Barrick was still going to close the financing at $1.00 when the stock was at $0.50, thankfully they did. To me it seems obvious that Barrick wants those properties, or at least thinks there is a good chance of a discovery. Barrick got a huge discovery drill hole on the property beside IMA, and I would guess that they did the deal with IMA before someone like Homestake grabbed it.

The price of gold isn't helping us, but as you say, buy low and sell high. I've mostly kept away from gold stocks until recently, I think we are at or very near the bottom for gold. A little good news for gold will have a HUGE impact on gold stocks in general. Compare the valuations for gold vs. tech stocks, it's laughable. Central banks cannot sell every ounce of gold they hold, and so many of the gold mines in the world about to close (maybe as many as 70%). The worst hit by the downturn in gold is the exploration guys, if this deal was done with Barrick three years ago IMA would already be $3!

It seems you agree with me Ralf, now is the time to buy. I don't see much risk on the downside at these levels. I heard a newsletter who pick Argentina gold has picked up on IMA, but I don't remember who. Does anyone know some details?

Al
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