RE: so far i think ISM is just moving up on very
Fortun8
In my opinion, you will not have to do much due diligence on this company before you realize it is a company you want to stay as far away from as you can. When the Independent Micon Ni 43-101 Resource Report was finally released, it confirmed the obvious; that is, that ISM didn’t come anywhere close to proving up the Resource Numbers and Grades many on this site were promoting non-stop over the years! Since this report was released, there has also been a complete absence from those very same posters that said ISM would show nothing short of a Hundreds of Millions of Pounds of economically extractable Ni. One poster even claimed a Billion Pounds! After all, “there was nickel in every single hole.” The Micon Ni 43-101 Resource Report silenced them all on its release!
Let’s not forget this other key fact: The Micon NI-43-101 Resource Report was also based on ISM building its own Mill. As ISM has been attempting for over 5 years just to figure out how to apply for a simple dewatering permit, I think it is safe to say that all of us will be long dead and in our graves before ISM will ever figure out how they would attempt that job.
As I have stated before, ISM probably has a small resource in the L-1 similar in size and grade of LBE’s McWatters when all is said and done, but after waiting for ISM to produce a de-watering permit for almost 5 years now, it is easy to see this management has no intention in progressing this property forward. The L-1 is much too small to build a mill for and from what results we have seen of L-2, the average grade is extremely low and recovery % grade would be a killer. In my opinion, ISM’s only option would be to try and sell the L-1 property. Problem is, no one is interested. LBE has enough of their own resources without any further drilling to keep their Mill going for years to come. ISM will be long out of cash before LBE may have some interest in the L-1. Even then, unless it was a complete steal, chances of a deal ever moving forward would be remote. LBE would be better off letting ISM die and pick up the pieces on the cheap years down the road, if ever.
Try and phone or email the company and get the answers you seek. Like all the rest of us, you will probably never get a call back. Even if you do, your questions and concerns will more than likely not be addressed. Don’t spend too much of your time waiting for the company to call or email back. People around these boards have been waiting years and years and it just never comes.
There is only a few individuals making a living from this stock and it is very easy to see who they are!
In any case, best of luck with your other investments.
Nickel