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Gold/Mining/Energy : Imperial Metals (IPM.T) -- Ignore unavailable to you. Want to Upgrade?

To: refugee investor who wrote (584)	8/13/2010 8:08:28 PM
From: Italian Investor	Respond to of 1366

Refugee you harrasing that IR lady again, thanks for the update Fairholme 13F in order AMERICAN INTL GROUP COM $1,129,253.00 32789000 SEARS HLDGS CORP COM $907,510.00 14037171 CITIGROUP INC COM $892,335.00 237323200 GOLDMAN SACHS GROUP, INC. $786,386.00 5990601 BANK OF AMERICA CORPORATION CO $777,309.00 54092500 ST JOE CO COM $620,669.00 26799155 HUMANA INC COM $598,546.00 13105900 BERKSHIRE HATHAWAY INC DEL CL $475,920.00 3966 REGIONS FINANCIAL CORP $473,182.00 71912214 AMERICREDIT CORP COM $452,079.00 24811195 SPIRIT AEROSYSTEMS HLDGS INC C $432,676.00 22700398 CIT GROUP INC. $414,430.00 12239529 BERKSHIRE HATHAWAY INC DEL CL $399,761.00 5015900 LEUCADIA NATL CORP COM $384,591.00 19711641 MORGAN STANLEY COM $377,344.00 16257800 AIG PFD 8.5% $286,999.00 29895726 HERTZ GLOBAL HOLDINGS INC COM $273,645.00 28926400 BP PLC SPONSORED ADR $272,509.00 9435900 COMCAST CORP SPECIAL CL A $267,712.00 16294100 WELLCARE HEALTH PLANS INC COM $176,717.00 7443078 MBIA INC COM $127,550.00 22736200 RSC HOLDINGS, INC. $91,554.00 14838500 WINTHROP REALTY TRUST $53,876.00 4203847 TAL INTL GROUP INC COM $39,889.00 1868653 COMCAST CORP CL A $2,415.00 139018 DAILY JOURNAL CORP COM $753.00 11050

To: refugee investor who wrote (584)	8/13/2010 8:21:43 PM
From: refugee investor	Respond to of 1366

Been reading analyst reports about Imp. They all say the book is about $30, although they use slightly different methods to get there. One said for instance that Red Chris is worth $780 million or $20.5 per share. That seems conservative when Imp's own resource estimates from the beginning of May said Red Chris might have 6 billion lbs of copper and about 9 million oz of gold, but then again I do not know much about valuing mines. Actually Imp only owns 88% of Red Chris--someone gets about 1.5% milling royalties and someone else gets about 10.4% in some kind of clawback arrangement. Also technically they have a permit that allows them to process 30,000lbs a day with allowable expansion to 45,000, but then they would need to get new permission for increased amounts. Just a detail I suppose, and years away. Speaking of that, someone estimated that a deep mine at RC would be online in 2018 which I thought was too long, also gave an estimate of $450 million for the mine cost. They all point out that RC is a work in progress and that each set of assay results have tended to improve the picture. I suppose the next definitive announcement will be the Q4 resource update, and in the meantime we can hope that the drilling results will continue to be good. About raising money, I think that if Edco wants to finance the mine, they would probably do a share offering where shareholders can subscribe to new shares based on the number of shares they have. Or something similar. Have been thinking about buying a few more shares. Kind of a speculation, or bet that results at RC will continue to be good and that the resource will even bigger. Also momentum chasing I guess. Imp has been my best stock since 09, and I think it is still not well known. Even if it is worth only $30, and it takes 5 yrs to get there, that is still 12%pa for the new shares, which is fine by me. I think the new Mt Polley results are v good too, and that without RC the co is probably worth $10 to $12. A risk would be if they issue a lot of shares and water the stock. And Imp is already 10% of my port., so strictly speaking not necessary to buy more. I like the idea of owning part of a mine with a 25 yr life expectancy--like a real solid, inflation protected long bond. Thoughts?

To: refugee investor who wrote (584)	8/13/2010 8:23:15 PM
From: refugee investor	Read Replies (1) \| Respond to of 1366

I have been reading analyst reports about Imp. They all say the book is about $30, although they use slightly different methods to get there. One said for instance that Red Chris is worth $780 million or $20.5 per share. That seems conservative when Imp's own resource estimates from the beginning of May said Red Chris might have 6 billion lbs of copper and about 9 million oz of gold, but then again I do not know much about valuing mines. Actually Imp only owns 88% of Red Chris--someone gets about 1.5% milling royalties and someone else gets about 10.4% in some kind of clawback arrangement. Also technically they have a permit that allows them to process 30,000lbs a day with allowable expansion to 45,000, but then they would need to get new permission for increased amounts. Just a detail I suppose, and years away. Speaking of that, someone estimated that a deep mine at RC would be online in 2018 which I thought was too long, also gave an estimate of $450 million for the mine cost. They all point out that RC is a work in progress and that each set of assay results have tended to improve the picture. I suppose the next definitive announcement will be the Q4 resource update, and in the meantime we can hope that the drilling results will continue to be good. About raising money, I think that if Edco wants to finance the mine, they would probably do a share offering where shareholders can subscribe to new shares based on the number of shares they have. Or something similar. Have been thinking about buying a few more shares. Kind of a speculation, or bet that results at RC will continue to be good and that the resource will even bigger. Also momentum chasing I guess. Imp has been my best stock since 09, and I think it is still not well known. Even if it is worth only $30, and it takes 5 yrs to get there, that is still 12%pa for the new shares, which is fine by me. I think the new Mt Polley results are v good too, and that without RC the co is probably worth $10 to $12. A risk would be if they issue a lot of shares and water the stock. And Imp is already 10% of my port., so strictly speaking not necessary to buy more. I like the idea of owning part of a mine with a 25 yr life expectancy--like a real solid, inflation protected long bond. Thoughts?