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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.


TSX:III - Post by User

Comment by miningfundion Oct 22, 2024 5:33pm
86 Views
Post# 36277535

RE:RE:RE:Share price puzzle?

RE:RE:RE:Share price puzzle?I believe that the principal III shareholders are behind the share price puzzle i.e. III is very tightly held: ME owns about 50%, directors own about 5% and Fairholme owns about 12%. In addition, ME and prominent directors have been with III since 2001 and 2002. They are well past retirement age and very patient i.e. they alone will decide when and with whom to do a deal. Perhaps the Red Chris Block Cave Feasibility Study will be their trigger for action in early 2023.
 
I agree that my estimation of future earnings lacks precision, but the bottom line is that the two open pits are operating very well, and metal prices and the US$/CDN$ exchange rate are very favourable. My rough earnings estimate assumes that those conditions will continue. But a far more important valuation factor than the P/E ratio is the forthcoming Red Chris Feasibility Study which should be hugely more favourable than the 2021 Pre-Feasibility Study which valued III’s 30% interest at about $4.00 per share.

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