Why I bought this stock and you should also IRI.v Largest shareholder put nearly $2.6 Million into the company by way of a non-brokered private placement at 5 cents (the stock is currently trading at 2.5 cents.) IEMR group & Zheng Fu now hold 66% of IRI shares. They have the Pine Tree project in Nevada. Some may remember it as the old Mosquito Consolidated property. IRI is debt free.
IRI holds 9 million shares of MLY.v which may have just pulled off the largest deal in TSX Venture history if it closes.
I expect IRI to make a similar type of deal in the coming weeks. Both moly and copper are in the early stages of a serious bull market. China is in huge demand of these resources and they're willing to pay whatever price in order to get them.
Keep these two companies on watch. IRI.v is one of my fav's as it is trading well below where it should be trading and it has the exposure to MLY.v $200million deal with the 9 million shares it holds.
IRI.v has been very quite the last 3 months...but I suspect that will now change with the new deal struck at MLY.v. I spoke with management last week at IRI.v and they did state they are working on a few different deals. I don't think we will need to wait long. These guys have money in the bank...huge shareholders with very deep pockets willing to pay full price for the right project.
Both copper and moly are in the very early stages of a serious bull market in my opnion now that Mr. Trump has been elected. The world is in very short supply and in just the last month we have seen demand pick up enormously.
See you on the tape!
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