Imperial Metals (IPM.T) Message Board

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

IPM 1.930

-2.0%

Nov 4 3:59 PM EST

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To: refugee investor who wrote (1264)	3/27/2013 9:42:06 PM
From: Italian Investor	Read Replies (1) of 1366

I heard about IAG from the same write up on guru focus, this time I found it http://www.gurufocus.com/news/212539/weekly-canadian-insider-trades-march-512 both these names look oversold. I have not done much research on either just a quick look @ the financials which look pretty good. I blindly took a small position in both and wish I took a larger position because I am up a few % on both. The name I spent a significant amount of time researching is down like 5% mbc.to. It has been getting killed this year and it is an old money maker for me so it was easier putting money to work @ the time. Bought too quickly so down roughly 5% right now. This name is a bet on mgt finally coming threw on there promises we will see got my fingers crossed. Investors are clearly giving up 1st it was mid 2012 then the end of 2012 then 1st Q 2013 now it is April. This name is more of a spec than the 2 names your interested in because there is no cash flow accept for a mine that is basically producing 0 cash flow and is @ the end of its life. So, it is all about developing there new assets all in Brazil and Mgt clearly is pissing off the little guy with cost overruns which brought on more dilution and delays in production. These are all turn offs but it is hard for me to believe this will not be a rewarding investment if current fertilizer prices stay the same or even fall a little. What makes me feel so strong is the recent bought deal there were a number of current mgt involved and this was @ 3.40 which B&A took part in also. B&A recently bought last tue I believe 340000 shares around 2.60 which puts them in with a 12% or so ownership now. There initial buys reported back in Sep 2012 were around 2.70 buying over 13M shares @ the time. B&A is run by the ex VALE ceo who ran a mine adjacent to MBAC and André Esteves who is on the billionaire list. Buying cheaper than current mgt and 2 pretty smart guys in Esteves and Roger Agnelli makes me feel the chances of something good happening is much higher than something bad so I took the jump. I really don’t think there will be any more hiccups just need fertilizer prices to stay where they are and hopefully mgt hedges out a few years to prevent more dilution if prices collapse.

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