IDO.v,..this year they were restricted from drilling because of the forest fire risk,...thus the stock was pummeled down on lack of news. The increase of the price of Palladium has recently revived the stock and a planned PP probably in the $.45 range was cancelled in favor of negotiating one in the present $1.00 range,...which is different from the stocks of many of the rest of the crap we trade considering they usually do PP's the opposite way.
This can probably be explained because the stock has been a Tommaso family controlled enterprise up until the last year I think, that family holding the majority of the shares, but lately they have been adding some interesting people to their board,...for instance Gren Thomas former President of Toronto-based Aber Resources, and the just announced appointment of Marc Oppenheimer and Luca Riccio both of Crystallex International to the board explaining the additions to the Company are the first step to a comprehensive revision and updating of the management team to more adequately expand and develop the Company's large PGM project in the Stillwater Complex.
Because they couldn't drill this summer, they continued the surface sampling of the various layers of mineralized intrusions that sandwich Stillwaters J-M reef. They also logged and analyzed a sizable core resource drilled South of the J-M reef in the 60's I think, owned by their partner Chrome Company for PGM's and other metals.
I think they are looking to drill the eastern J-M reef in the Black Butte region, and work to prove up a resource this year that they can do a feasibility study on,...should get a good spec rise. I know what you mean about energy, very expensive. They also have a legal action against Stillwater,...it appears that Stillwater drove their latest adit to the new mine through property that IDO has the rights to,...a settlement could give development funds or some sort of partnership agreement with Stillwater.
In short: surface samples,...many giving oz per tonne numbers over long strike lengths, hint that the J-M reef layer may not be the only layer in the sequence that has economic ore,...who knows?,...add to this a recent geophysical analysis that shows the J-M reef extends for many miles to the east on IDO property allows for worthwhile speculation in the short term.
Cheers, |
