Keep an eye on big sister!Back in early June I pointed out that IAM had rallied 300% to $12. I voiced concern that we might be vulnerable to a cheap all stock take out. Now Iam is past $13 and building momentum. We have results coming that should either confirm or refute the idea that we have an economic deposit. If the results are positive I foresee a lot of pressure on Iam's BOD to take us out early for paper. Once we have a confirmed deposit there is no downside risk for an acquirer, and with the size of the potential zone that we are exploring, lots of upside. Iam has already invested in the infrastructure in that area, so our reserves will fall right to the bottom line.
Complicating matters more is the fact that we will probably sell off sharply after we go exdividend on the spin out. Meaning that Iam might be in a position to get the bargain of the century.
On the plus side, Iam is best in breed among its peers. If I have to take paper in a more senior company they would be my first choice. I still don't want to be taking dimes on the dollar for what we have found.
(PS-good work boys)