IMG GOING DOWN THE HOME STRETCH to 2024Shareholders, the material in this article is for information only and should not be treated as investment advice.
As a long term shareholder, I am confident that IMG will become a quality stock. With the grand opening of the Cote Gold mine in the first quarter 2024 and with the company possessing some of the most valuable exploration mining property in the gold mining sector located in one of the richest gold belts in the world, “the Abitibi gold belt.” Moreover, it’s located in one of the best mining jurisdictions in the world in the same vicinity as other major gold mines such as Agnico Gold mines.
According to company information, the ongoing early drilling results indicate that the Nelligan project is open ended as well as at depth. Previous drill results have confirmed substantial proven ore reserves. Investors are anxiously awaiting the next round of drill results but the wild fires in Quebec are causing a delay. Some have estimated that the ore body may contain 10 million oz. This is a wild guestimate to say the least, because it may be smaller or much larger, no one really knows.
Also, similar drill results are indicated on the exploration Gosselin gold project which is adjacent to the Cote Gold mine. Both Gosselin and Nelligan drill programs are undergoing 10 thousand feet of drilling. The added gold reserves of Gosselin could turn out to be a real bonanza for the life extension of Cote Gold mine.
As a long term investor, I’m bullish that IMG is turning the corner and heading down the home stretch and it will be a winner. IMO, within another 6 months or so, the share price will increase by at least 100% of its current share value.
There’s always the possibility of a buyout with IMG holding substantial gold reserves, and a major could just scoop in and do a buyout. Remember, the major producers have to replenish their depleted gold reserves. But that’s another story. We are about to enter an interesting 6 months. Be patient.
According to the company, the construction of Cote mine is progressing on schedule and once completed and operational in the first quarter of 2024, the mining, plant and processing facilities will be the state of the heart in the mining industry.
Shareholders, in the current landscape, it is crucial to resist selling your shares to the opportunistic hedge funds, bullion banks, and short traders. Remember, these vultures have their own agenda. Some hard core naysayers have said that the Cote Mine was never going to happen. Do not listen to their sales pitch.
They’ve been around for as long as I can remember. Their actions may tempt you, but remember that hasty decisions can lead to regrets.
Finally, I encourage you to conduct your own due diligence before making any investment decisions. It is vital to gather relevant information and seek professional advice to ensure informed choices.