Imperial Metals (IPM.T) Message Board

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Gold/Mining/Energy : Imperial Metals (IPM.T)

IPM 1.890

+0.5%

Nov 17 3:59 PM EST

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To: refugee investor who wrote (292)	3/31/2010 7:48:29 PM
From: Italian Investor	Read Replies (1) of 1366

Magellan has had a wonderful bounce about like Imp. If you bought at those levels then well done. No, I did not buy when they were in the pennys, no money available but I did get it when it was a little over a dollar. I also added @ around 1.70 so my cost basis moved up. What if Magellan is mainly Edward's insurance against oil getting cheap again, a hedge, and not so great in its own right? Is that possible? Yea, that is possible, but I am sure Edwards believes in this company also or he would not be involved. I think even the best defence and aerospace cos are reasonable at the moment..Magellan's valuation depends on whether it can regularly earn money or not. No idea why it lost money for a couple of years. Probably too hard to figure that one out. So it is still cheap enough to warrant a spec./value play? I still think it is cheap and I like that they always have Edwards to help them out. I think they have all the pieces in place to have a nice run over the next few years. This is a good summary of Magellans business from 2001 to 2008 and how a bull became a bear. I have no idea how he waited 7 years. valueinvestigator.com

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