I thought it's logic, but maybe it takes creativity...
A bunch of scenarios come to my mind: lengthy escrows, holdover management agreements for the fellow to run it/train new owners, I recall hearing _one_ man owned it, not physically runs it, so perhaps a protege stays with the lab... I re-read CL's original report and it sounds like there could have a been a plating business there. I see many possibilities and all of these are purely my own speculation... but the point is: _many_ possibilities.
Here's some more speculation: Someone was worried why IPM was building the second processing facility. The demo plant does what? 20 pounds or kilos? The new one will handle a _ton_ or more. Several things come to mind, like VP Mentzer saying some of the industrial refiners require larger amounts (of mud) to work with than IPM's yet been able to produce. Also, I have a suspicion, that if and when we get financing in the 100's of millions for a mine, due to the "ground-breaking" nature of this project, some of the financial entities will want to see demo's on tons rather than pounds. Of course, the larger plant would also seem a key to feasability studies and process engineering, refining and _opitimising_ such.
It just amazes me how quickly people glom to one conclusion and see just one possibility and from some people (not you CC) only the most foreboding. Someone quoted Mr. Furlong's report of a 30-45 days estimate; yet I believe he was talking about a sign-off on a fire assay... However maybe he took Mr. Doyle's "several weeks" estimate and doubled it. I would find that smart. That's what I always do, with _all_ mining companies. I don't know what to tell the punters and traders -- if you like the stock I wouldn't dare to be "out" of IPM right now, I do feel anything can happen, especially in light of the float, and price resiliance despite the media hell. What's that saying, "That which doesn't kill me only makes me stronger..."
I am going to share a hot tip on mining stocks:
Source of my new found grail of equalibrium.
I was at a Chinese restaurant some time ago, discussing IPM with some people the night I reached some of my strongest convictions... and along came my fortune cookie. It said: "Your happiness will be achieved through patience..."
You could have knocked me over. I reflected on all the invesments I'd dumped too soon that would later come back much stronger. Such as land in Taos after the Gulf War when the spec market sputtered, followed by a county building moratorium that exploded lot prices. Such as selling Disney stock a bit too soon (as in _years_) -- and many others. I reflected on the agony of waiting for all my movie deals to happen, yet alone get greenlit/financed and actually shoot... and I had an epiphany: I was going to have to learn patience.
Lew Green |
