RE: RE: lojax and Bandit
Gentlemen, For many years Impact's Chairman , Fred Davidson, who is also the chairman of Impact's sister company, Enerrgold (which holds at least 6.6 million Impact shares-probably more now with Impact's 15 million financing now completed), has always been one of the most ultra conservative mining managers in the industry. He was making a positive cash flow years ago when very very few were. His philosophy was always to save your cash for mill capacity and to drill for ore he knew was there and he could process profitably. He believed he did not have to expend money for 43-101 resource defining when silver prices were low, and that prudence dictated not diluting the stock and keeping very low or no debt levels. He takes only an 80k salary from Impact, and 380k from Energold. Because his stock has lifted it's head and doubled over the last 18 months, and the price of silver has lifted it's head and also doubled in the last 18 months He made the decision to raise some money, which he very rarely does, and invest that money explicitly to finally delineate (drill for increasing our resources) our very large potential ounces in the ground. He has waited patiently and prudently until both his stock and the price of silver has given him the greatest leverage to make this a good "Businessman's Risk"-to finally "See What We Have In The Ground". Drilling results I'm guessing will not start coming in in any meaningful amounts until early this summer at the soonest. Hope I'm wrong, but.....when they do start coming in because the rock hounds know how large Impact's land holdings are, and with so many old mine workings present in those large land holdings, they will start to extrapolate, and I think the stock can double by the end of this year if the results I think he can get come through. As further drilling and larger milling capacity is added, and silver goes to 35-38 and above in 2012, I think it can double again, but that's just IMHO. I've held this stock since 2004 because Fred Davidson was always my kind of businessman, and I believe in him completely. The big money and gains have always come from having the patience to hold on to an investment when you truly believe. Fred would not have taken this "businessman's risk" at this juncture if he didn't think the payback would be fairly quick. Impact is a "Value" mining stock which is about to achieve it's true value. Hold firm. Good Luck and Good Health To You All!
munisign