INM #4 hot stock to watch
According to MiningFeeds.com article: https://www.miningfeeds.com/2012/04/02/5-mining-stocks-to-watch-in-2012-part-2/
International Northair Mines Ltd. (Stock Profile - TSXV:INM & OTC:INNHF)
After many years of mixed results, on February 24th, 2011 the fate of International Northair Mines changed dramatically. The company proved that persistence pays off when they announced drill results from their La Cigarra silver project located in north-central Mexico. The numbers included 80.45 metres of 123.5 grams per tonne silver in hole CC-11-002 at the San Gregorio zone.
In response, the company's shares took flight from under
.15 to an intra-day high of $1.00 per share a few months later. Since then, International Northair has continued to release strong drill results from the project, and the company has been garnering support from the investment community, receiving coverage from brokerage firms and a significant investment from Pinetree Capital.
On February 28th, 2012, Canadian investment firm Pinetree Capital (Stock Profile - TSX:PNP) announced it acquired another 500,000 shares of International Northair. As a result of the transaction, Pinetree and its joint actor now hold 9,845,500 shares of the company.
Most recently, on March 28, 2012, mining analyst Michael Fowler at Loewen, Ondaatje, McCutheon in Toronto initiated coverage of International Northair and issued a Speculative Buy recommendation with a 12-month price target of $1.00 on the company's stock. Fowler wrote, "We believe International Northair should be able to outline a 70 million ounce silver resource at its La Cigarra property in an upcoming 43-101 report due in Q2, 2012." Talking to the company, management confirmed they are working diligently to have the report ready for the end of June but noted the delivery date could spill over into July.
The La Cigarra Project is located in the same mineral belt that includes Silver Standard's (Stock Profile - TSX:SSO & NASDAQ:SSRI) Pitarilla and Pan American Silver's (Stock Profile - TSX:PAA & NASDAQ:PAAS) La Preciosa project. Shares of International Northair are currently trading at
.275.