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Gold/Mining/Energy : Imperial Metals (IPM.T)
IPM 1.980+2.1%Nov 10 3:59 PM EST
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From: teevee3/2/2011 2:20:33 PM
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I am most interested in how III will finance Red Chris. I see two scenarios:

1) Outside financing is used, in which case, Imperial Metals will want the best terms possible, and reflected in the share price.

2) Imperial Metals finances via Murray Edwards private investment bank, Edco. I would expect a convertible debt financing on the best terms possible for Edco, and reflected in a lower share price. In this scenario, with Red Chris production 3 years away, and copper prices near the high, I am concerned the share price of III could back off to the $15-$17 range.
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