Post by
Luke555 on Feb 12, 2021 6:38pm
IMG FALSE HOPE - M&A
Recently, a poster said, “He read that the company was going to use the nearly $1B dollars sitting in the bank for M&A activities”. To me, this is false hope. On January 27, 2021 at the TD Mining Conference, the IMG BOD’s boasted about their strong financial position and also, bragged about the company’s fully funded growth pipeline with no need to pursue expensive M&A transactions. Again I re-iterate that for the past several years, the primary objective of this self-serving IMG BOD is to producing a strong Balance Sheet and to protect their remuneration packages. The big winners in this game are the bankers! Obviously, the markets don’t agree with this strong balance sheet approach just look at the share price. The BOD does not want to upset the applecart and they are pleased to carry-on business as usual. I have one interesting question, “Is it possible that the company maintains a nearly $1B dollar cash in the bank in order to deter any possible buyer”? As always, I mention that you should not sell your shares at these low prices. Despite the ineptitudes of this BOD’s, I’m confident of a brighter future...
Comment by
toppgunn on Feb 12, 2021 6:52pm
Great comments and agree to hold IMG long term. The golds and IMG can turn very bullish and would not want to miss out on the run upwards. Strongly believe there is plenty of upside going forward - few dollars to north is my expectations this year. It is a wait and hold for IMG.