There are many factors influencing the movement of Imperial metals namely;
1. Colony Pacific (CYX.T) which is 60% owned by IPM, is exploring in Indonesia in JV with INCO. When CYX goes up, IPM goes up.
2. Price of Gold - when the price of gold was down to $337, IPM went down to $2.08. In the last 2 days gold made its recovery to $345 and IPM went as high as $2.40.
3. TSE- at the present is ignoring whether TSE is bull or bear that day.
4. Cathedral Gold (CAT.T) - which is 40-45 % owned by IPM hardly makes any noise for IPM. If however, CAT, shows some signs of life due to its mineral exploration project, IPM will have a double whammy in CAT and CYX.
5. Investor Relation- although there are recommendations made by some brokerage firm such as Canaccord, they were not widely distributed and received by many investors. If IPM makes it to the Financial Post, it would become a Star in the Northwest.
IPM closed at $2.35 on Friday with moderate trading. It was at $2.40 at approximately 20 minutes before closing and someone snapped up a bargain at $2.35.
Well, Mike, Bobby, and IPM shareholders, I will have an enjoyable long weekend in Alberta being the provinces' Family Day.
I wish you both a pleasurable and safety long weekend. |
