Thanks for the reply. Just a reminder Larry, this is a 0.19 junior explorer with a market cap of $4MM, not a senior producer that you're trying to bury here.
Loans - The $500,000 security for the loan has been in place for awhile now. Also, don't forget that loans can be shopped using different types of security.
MGAU shares - Who knows, maybe Furlong and Mentzer will buy back the MGAU shares in one go with their fat salaries from MG Gold.
Financing - Regarding your comment on recent financing, only $200,000 of the $1,384,500 raised in the last quarter was a convertible debenture and I seriously doubt that with the current volume anyone would short this stock at 0.25 or less.
No question about it the cash on hand could be better but the financial statements we're seeing from IPM look like a lot of other junior explorers out there. What they do have that is tangible and that most juniors don't is an advanced property potentially ready to be brought to a bankable resource status. They have $38,000,000 cash invested in exploration and own, not lease or JV, a property that could prove up to be a very significant platinum and gold resource. Regardless of potential share dilution or reverse splits, IMO you'd have to be crazy not to take a piece of it at these prices.
Rob |
