Hello Paul,
Have had some computer problems lately, that is why I have been silent. You are right, on the one hand, it is hard to evaluate the stock as it only trades a small portion of shares, relative to the 57 million shares outstanding. On the other hand, there is a great deal of confidence in the potential of the stock as most of us have bought and held.
The value (break-up) of IPM is also a little difficult to objectively establish. Firstly, as an emerging producer they should enjoy excellent cash flow towards the end of this year. Secondly, their outside investments, i.e. Colony Pacific and Catherdral Gold, have enjoyed excellent increases of a more speculative nature (especially CYX). I tried to work out what I believed to be an accurate value of IPM as of late, and I came up around $3.00 cdn/share. Remember, the market capitalization of CYX alone, will contribute almost $0.90/share, so I think I am being realistic. Have you any thoughts? Very Best Regards,
Mike |
