RE:15 cent private placementThat was a hard dollar private placement to boot!
A bunch of warrants got exercised and sold that drove the stock price down followed by frustrated investors selling due to the lack of news and a falling stock price. Five drill holes are pending assay results. Word is that IMR has three holes that have returned assays and is waiting on two additional drill holes undertaken to report the results. The two additional holes were step outs. The market seems to think they were all dusters as that seems to be reflected in the stock price. Due to the PP and warrants, IMR is at least cashed up to drill recently released VTEM targets. Right now, the snow is still melting but I would suspect some ground work will be undertaken to best determine drill targets.
At near three year lows for the stock price, I'd wager a good entry point. If the pending assays are not dusters like the market has concluded, IMR could put in a run. The question is whether or not current bag holders will sell into any strength/bounce and or hold out for drilling the VTEM targets. As for me, I'm waiting to see what PAAS does with the Juby Property. I think they are going to sell it and Kirkland might be the buyer. That would be a decent catalyst for the entire area (ie: IMR's Gowanda property is alongside Juby). Meanwhile, I'm one of thse bagholders with little to no dry powder so I sit and wait.
Well, that's my two cents. GL!