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Gold/Mining/Energy : Imperial Metals (IPM.T)
IPM 1.860-1.1%Nov 19 3:04 PM EST
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To: Bobby Yellin who wrote (80)1/16/1997 6:35:00 PM
From: Mike M   of 1366
 
Hello Bobby & Roman;

I recently spoke to some friends who have in the past,supplied me with useful and accurate information with regards to IPM. They suggested that probably the single biggest reason for IPM's rather slow increase (relative to positive news), is due to their Mt.Polley play. Evidently (until recently maybe) most investors have adopted a wait-and-see attitude with regards to results and proven production. Apparently the Mt. Polley play was passed over by some of the larger companies as being a poor return on investment. The fact that IPM sees enormous potential for this mine, coupled with the fact that management is holding approximately 50% of the outstanding shares should be an enormous boost in confidence for investors.

I think if any reasonable person, looking to invest, evaluates IPM's recent acquisitions and their success, they would be crazy to wait until August or September. The fact that Sumitomo is involved, and that IPM was able to satisfy the Government of B.C. with regards to it's mining development, speaks highly with regards to the integrity of the stock. Obviously Sumitomo's "little copper nightmare" last year did not help the stock, but I think it was over-played by investors and essentially arbitrary to their current position. Finally, I like companies that are well-managed and avoid the hype; I fear these qualities are often over-looked. I certainly do not claim to be an authority or have a crystal ball on IPM but these are my feelings. What do you gentlemen think? Very best regards,

Mike
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