Hello Richard and all. Finally some good news about IPM. I have
browsed several posts and though I would add some comments
I believe one of the problems with IPM is many investors
bought into the stock because of the story and know little
about mining exploration. There is really nothing wrong with
this but I think it would be good to put this news in perspective
The property deal is a good one. It removes one issue with
the company. It is far cheaper for IPM than before and this
reflects the reality of the mining market, which is basically
a graveyard with a long waiting list and a few stirring bodies
inside.
The deal is very typical in mining circles, some cash, some shares
or options and a NSR. These type of deals work best for both parties
IPM gets a good deal but has to prove the property. Omega does not
benefit unless IPM does. I doubt those 3 million shares will be worth
much in a 1 1/2 years if progress isn't made. Basically IPM
and shareholders get a shot at 100% of a highly prospective
property for $1 million. If IPM succeeds in proving BRX, than
everyone benefits, IPM, shareholders and Omega
Some have speculated about the asset or value of the property. Right now
it is worth little, but merely an exploration property. The key statement
in the news release was " a gold resource statement". If IPM can achieve
this, signed off by 3rd party (Bateman), than they truly have an asset
of value. This is very key. This will turn heads in the mining industry
and we all know about the other grids and their potential to add on. Once the
1st grid is done, the others can proceed much faster. As quick as money can be
raised, drilling, assays and calculations. However this is no simple task and
could take 1 to 2 years. The share price in a mining company, typically has it's
most dramatic run in price in this phase.
Yellich as President and CEO is positive. He is very capable and
will run a better and tighter ship. Lee Furlong is a
scientist/chemist or geologist type. His role with a vision
and persistence to prove BRX has brought IPM
and the desert dirt industry a long way, even though the share
price does not show this now. Furlong was also smart
enough to bring a lot of vert good
people into IPM, such as Sam Shaw, Dodges, Doyle and Yellich.
I think most of what Lee could do has been done. Perhaps one
of his weaknesses has been to be too trustworthy and perhaps too
easy going. He worked hard but I think
some have taken advantage of these traits and resulted in some
sour deals by unethical characters that took advantage of this.
I don't think you will see this under Yellich. Institutional
shareholders will be happy with the change
Lastly is the Nasdaq issue. IPM presented a very strong case
backed by some good credentials in the industry. The case against
them is poor. However I hold little hope for a positive outcome.
Typically these exchanges, don't change their mind and we have
seen what has happened to every desert stock in this situation.
They just aren't quite there yet in being accepted as viable,
these desert properties. This will eventually change, but as for
when who knows. Perhaps a change will occur with this
hearing, but I would be surprised. I believe this negative
outcome is already in the market price and is expected.
Irregardless, IPM is not going away, BRX is potentially, too
lucrative and too many know about it now. I am betting it will
still be a very successful project
Ron |
