<< Not sure if I'll get my chance to buy below $7, hope I still do. >>
Paul, I am sure you will have the chance to buy and possibly at lower prices. The trend is still down. This release is a confirmation of what was said last Friday, if I read well. So why would you expect the stock to move after it resume trading, more than it did yesterday.
The market wants an independent audit...nothing else.
<<Hey Claude, I respect your view, but wow, you're really
conservative IMO. Why not act now, rather in 30-45 days when the price may be double? >>
I don't think there is a chance in the world that IPM will double before there is an unequivocal audit by BD/Lyco. I may be wrong, but for many months, I have argued with C. Childress and others that the BD report is the only thing that could gives IPM the market value it should have, based on the recovery grades and the tonnages that have been announced by the company.
<< If you play the junior mines, you've gotta expect to lose 50% of your outlay once in a while ... >>
Of course, and I've lost 50% in a few occasions. But in the case of IPM, I think that the range is much wider. Paul, IPM will be a several hundreds $$ stock or will go below $0.50. I don't think that there is a middle ground here as IPM assets is The BRX property and the value that the market will assign to it depends on what BD/Lyco
will confirm.
I am still holding 20% of my original holding.. and because I have sold at higher prices, I am sure that I will make money with IPM. I am also convinced that the stock will not shoot up instantly to $40-$50 after a positive report by BD... so I will have the time to buy back.
Call this a prudent approach. But I don't think it is really conservative. Buying IPM or any other juniors that have no reserves and no production IS NOT conservative.
CC |
