I have no idea what your speculation is based on and doubt it.
I suppose this is in conflict with my and any other favorable IPM investor/speculator's recent conviction as "hypster-scamster CON-artists"... however I feel must throw cold water on this happy speculation. I would be surprised to see a PR prior to the AGM at this point... It would be illogical from any company this close to an AGM... And I would imagine any IPM "news" will be delivered at the AGM.
I think in the plethora of attack/flamewar/rant posts people are missing the "islands" of salient information. Todays action was literally forecast to the day by John Wickendon, and personally I would look there for the "explanation".
To me it is simple. There is very little float in IPM. I believe (but was not personally watching level 2 on the road) a great deal of the actual volume on our big drop was shorts selling to each other in a circle (real shares, they have em too)... and not that many real shares changed hands in the drop... (remember nasdaq volume is always overstated) and perhaps a couple hundred thousand shares left very anxious hands during the last week. I believe as many as were going to go "cheap" are gone... Then today there was a perhaps new larger appetite for actual shares which shorts were afraid to write in the 6's, and low and behold demand exceeded supply... It will be interesting to see if this continues.
I personally didn't panic or die or feel there was anything fundamentally wrong with IPM when it dropped on the bad press/short attack, nor am I elated or going to dance a jig for it going back up, or exhort _anyone_ to buy it. If a new big player is coming in and prices keep going up, fine, again the company is fundamentally no different than it was at $5.50 last week.
IPM is clearly embroiled in a controversy. A controversy over Pt. existing in the Southwest, a controversy of complex ores masking precious metals from conventional assays, and of course a controversy of just being a front runner in the post-bre-x era.
I remain convinced they sincerely found a micro-fine precious metals anomally, and have been excoriated in the press and by the status quo (such as Azbom) just for trying to check it out. They now think they've "got it" and are attempting to "prove it" in a difficult political enviornment. It is not surprising to my mind that it is turning out to be a slow verification process, in fact this further points out it's _independence_ to me, and I am not going to crucify them for being optimistic about it's timeframe in the past. I am going to give them a chance to make the case.
Things have gotten so ugly, so much mud has been slung -- and I've recently gotten strong reason to believe my satire of Forbes research techniques was frighteningly close to the mark -- that all in all I find myself exhausted, saddened and disgusted by the media and hysteria surrounding the stock -- SI included. While in the past I've deeply cared about mis-information and scare tactics, I really don't give a damn anymore who here buys, sells or holds this stock; actually I never really have, and have always warned friends to invest moderately in IPM or any Jr.gold. As I said before, I'm not in this stock for a buck or two -- or even a double. This is due to my unique lifestyle. So be it, and I am responsible for my investment decisions, including the decision of who I choose to be influenced by.
I have always told friends they should only invest in _any_ Jr.Gold/explorer an amount of $ they can afford to walk away from in a worst case scenario. While some here were obviously ill prepared either emotionally, intellectually or financially for this type of investment, I find the following interesting: It seems many people are invested within their speculative comfort level -- with an amount they could accept losing in any legitimate high risk-reward investment, and perhaps have in the past. But that for most of them, suddenly that threshold diminishes drastically, with the utterance of that magic word:
"Scam"
There is a stigma, a special kind of fear of humiliation, that changes the picture. It clouds reason, logic, and sometimes decency.
Lew Green |
