RE:RE:"IAMGOLD: A Prime Candidate for Mergers and Acquisitions"On the other hand....I am hoping I have lotsa good years left before i kick the bucket and the one thing that bothers me the most is the hollowing out of the Canadian mining industry. We dont have many majors left and I rue the loss of the likes of INCO, Falconbridge and Noranda..
We used to have an oversized influence on worldwide mining but got usurped by the Aussies ,the Brits and the Brazillians. I would rather we be the masters of our own destiny rather than branch plant sidekicks.
Who have we got left...Teck of course, and thakfully Agnico which has blossomed over the years into a powerhouse of the Canadian precious metals industry. I fondly remember the days when Paul Penna would set his own course...right or wrong..
I see IMG as being in the same position tht AEM was forty years ago and I wouldnt want to shortchange myself with the comfort of a 50 % premium to the going stock price when realistically it could be worth ten times that in as many years.
A few years back I sold my entire stake in IMG because they were selling the niobium assets . I felt that they were selling their best asset to develop a rather doubtful one .. Was I ever wrong. Through some very difficult conditions , management has ended up with some great mining locations. Hopefully, they can continue on that path....buy out most of the Chibougamou and turn that into a huge scale operation with satellite mines all around the nelligan.
Its not all rosy...Esakane is frought with pitfalls but if I understand correctly a rather short mine life left so if Cote /Gosselin pan out they will perhaps more than make up for whatever we might lose.
Sorry for the long post..but to get to the point....I see IMG as potentially becoming a huge precious metals producer. It was a long wait with Vanstar, and I was happy to receive IMG shares in exchang.
A keeper in my estimation. Buyout Sup..put that development team back to work into another supercamp and in no time the dividends will start to roll!!!