Funny....
This is a funny company. It has a mine in Canada that just might start to make money, and two interesting properties here, both highly prospective but possibly mineable. It has a bagful of US dollars....anyone looked at the exchange rate in the last year? Just sitting on it has made the company about 25% in Canadian dollars. Too bad the debt is also US dollars though. Anyway it isn't due yet. In Canadian dollars the price of gold is only down to 1460 from a high of 1800 in 2011, so not as bad as it looks in straight US dollars, yet the share price fell to 2 from 21 over the same time! It is on the verge of acquiring a chunk of a property in South America if the Euro thing works out. It has possible properties in Mali and Senegal, also Nicaragua and Brazil. It doesn't need to buy anything, just choose one of these sites to develop. It has two other mines that seem to be getting by. They are looking serious abouot cost cutting. IMG doesn't look too bad at first glance. If they can outlast the crazy oil hedging and if gold finally bottoms, IMG should be a good company to hold. I don't want to say it too loudly, but maybe we can whisper - is that a light at the end of the tunnel we see?