Hello Paul
Well if I could answer that accurately, I would either be driving a much better vehicle than I am (and being investigated by the RCMP), or full of tundra fertilizer.
Significant movement in IAR like most NWT diamond satellite partner plays, is totally reliant on two factors as near as I can tell:
1. Having a reasonably exciting story to tell that is not frayed at the edges from retelling it, and
1. The attention of the market.
At present, IAR and most NWT diamond plays have neither.
The price has rallied 200% from its low of $0.12 (where I bought in) which I am not entirely unhappy about, but lets face it, we are all looking for bigger things. Seasoned NWT diamond play followers have been accumulating positions on this play along with a number of others, over the past six weeks. I presume you have noted the increased daily trading volume as high 100,000 last week. Interestingly, IAR is within a few pennies now of KLA (partner with almost twice the %). KLA has a few more stories to tell and an extensive promotion machine to help tell them but has moved only 100% from its low.
So when will IAR have a 1999 story to tell?
a) IAR and KLA are supposed to be sitting down with SUF (Project Manager-senior partner) with-in two weeks or so I believe. They will be briefed presumably on the final results of all the sampling from last Fall, camp status and activity, road completion schedule and anticipated start-up.
a) I would imagine that Applegathe (KLA) will crank his promotion machine up and prime the pump with these results and anticipated plans. SUF certainly can not be expected to wave the flag but I would imagine IAR will make a modest effort to rally attention.
a) The fact that MPV (just to the southeast) made and will continue to make positive progress announcements both on bulk sampling and more importantly, exploration, will eventually draw the market's attention.
a) Similarly, the fact that WSP (just to the southwest) will be bulk sampling and hopefully announcing continuity of those exciting grades (and possibly the eventual discovery of a pipe) will help reinforce the status of an “Area Play” at the south end of the Corridor of Hope.
b) Last year, I believe Doug James picked IAR as one of his NWT diamond plays to keep an eye on and while this will help if he does it again, it will not draw the market attention as much as if a few of the more widely read tout sheets were to wax poetic.
c) In that regard, I was reading JK's Sept 28th NWT diamond sector Express last night, and noted nothing more than a passing barb about Applegathe and a blatantly inaccurate statement that no trains existed on his claims north of Winspear (being the Back Lake/Munn Lake property) because WSP's trains were cut-off up ice of Snap Lake.
d) This statement not only continues to demonstrate JK's general ignorance of factors affecting NWT diamond exploration, but it also effectively removes the play from the radar screens of any of his readers who still think he knows what he is talking about after his Alberta fiasco.
e) This was obviously meant to hit at Applegathe (KLA) but it unconscionably tars IAR and SUF in the bargain. By playing with words he patently misrepresented the facts but can't be called to task because it is accurate for the small strip of land immediately bordering WSP to the north.
f) However, the facts are that there are a number of trains beyond that border and of course quite a number with exciting chemistry around Munn and Margaret Lakes to the northeast. The fact that there are at least seven different glacial ice directions in this area of the craton seems to have been completely lost on this self appointed expert. Many trains have been driven, mixed and re-mixed into a jumble which explains part of the difficulty all the players have been having tracking down sources. About the only direction the glaciers don't appear to have come from is the west.
g) In fact, to the best of my knowledge, I don't believe the western portion of the claims immediately north of WSP, have been very heavily explored by SUF as they have been concentrating their efforts at Munn.
h) Anyway, I digress. The fact of the matter is that I do not know, if any other sheet writer picked IAR as his tout, but if they have, presumably the shares will gain attention accordingly.
Of course all this is just so much hot air until SUF actually gets down to cases.
i) My guess is that as we approach the end of February and SUF actually start doing their sonic drilling, then we will see a bit more speculation in IAR. Lets face it, the market wants action and the people following these plays are typically only interested in churning their $$.
ii) When SUF finally, FINALLY finds the pipe source to the Yuri and hopefully a few other trains, then the real fun begins. With the chemistry we have, a pipe, especially one the size of say MPV's 5034, should send speculators giddily punching their calculators and waxing poetic.
But until then, hey,… its up to the whims of the market…
Good luck
Regards
P. S. Thanks Dave, I will try to track some of these down.
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