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Strategies & Market Trends : Winter in the Great White North

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From: teevee	9/27/2010 2:12:44 PM
	of 8273

Imperial Metals musings at $22.90/share..... In the fall edition of "Mineral Exploration", Red Chris is mentioned: ....The worlds largest mining companies such as BHP Billiton and Rio Tinto are watching the Red Chris project, and Imperial Metals, with a great deal of interest..... A few scenarios are possible: 1)A large mining company has locked up Fairholme's position, effectively putting control of Imperial in play. Once they acquire 10% in the market and declare, they will make an offer to get a minimum of 50.1% of the the shares. 2)Murray Edwards and Imperial have done a deal with a large mining company where 100% of development capital is put up for up to 50% of concentrate flow, a seat on the board and in mine management. Assuming the development cost is $1.5 billion for 50% of Red Chris, III's market cap should reflect the same or about $40/share before the value of other mines and properties (~$15-20/share). I can see $55-60/share. If copper goes to $6/lb within 3 years as some analysts project, you can easily double my numbers. 3)market simply recognizing a seriously undervalued situation?

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