Imperial Metals Corp T.III

Alternate Symbol(s): IPMLF

Imperial Metals Corporation is a Canada-based exploration, mine development and operating company. The Company’s holdings include the Mount Polley mine (100%), the Huckleberry mine (100%), the Red Chris mine (30%). The Company also holds a portfolio of about 23 greenfield exploration properties in British Columbia. The Mount Polley copper/gold mine in south-central British Columbia is owned 100% by Mount Polley Mining Corporation, a wholly owned subsidiary of the Company. The property encompasses about 24,096 hectares (ha) consisting of seven mining leases and 52 mineral claims. The Huckleberry copper mine in west-central British Columbia is 100% owned by Huckleberry Mines Ltd., a wholly owned subsidiary of the Company. The property encompasses about 25,767 ha, consisting of two mining leases and 49 mineral claims. Red Chris Development Company Ltd., a subsidiary of the Company, owns a 30% beneficial interest in the Red Chris copper/gold mine in northwest British Columbia.

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Imperial Metals Corp > A POORLY CONSTRUCTED RIGHTS ISSUE

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Comment by miningfundion May 31, 2022 7:03pm

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Post# 34721654

RE:A POORLY CONSTRUCTED RIGHTS ISSUE

Thanks faraway1, very interesting analysis. A couple of thoughts:

Imperial raises just enough funds to qualify as a "going concern". I suggest that management always believes that the next financing will be at a higher price because of strong corporate progress e.g. at Red Chris, Mt Polley and even Huckleberry.
But I agree that the pricing is disappointing - 35% below the previous issue price and 17% below the closing price before the issue news release.
I am impressed that you were able to compel your insiders to exercise their rights. As I pointed out earlier, the Imperial insiders declined to commit to exercising their rights this time around, even at the extraordinarily low issue price. Perhaps their strategy is to frighten off the smaller investors and scoop up their unexercised rights?
Imperial has seven directors and six Executives Officers - what keeps them all busy?
Imperial's net asset value is substantially higher than $3.04 per share, so I have no choice but to exercise my rights, for better or for worse!