Imperial Metals Corp T.III

Share price puzzle?

[miningfundi]

Something weird is going on with III's share price? Based on forward annual earnings of $0.52 per share (Q/E 2 earnings of $0.13 per share X 4), and the current price of $2.14 per share, the forward P/E Ratio is about 4.1. Also, III's current short position of 30,000 shares (0.02% of the float) is the lowest that I can find going back to early 2011. Also, huge potential upside at Mount Polley and Red Chris. Who is selling, and why - very strange ...?

[Temeraire2]

I certainly feel your pain MF though it hit me much earlier......  Reminds of when I read this some many months back:  Red Chris, is estimated to contain substantial copper resources. As of recent estimates, the mine is believed to have around 13.3 billion pounds (approximately 6 million tonnes) of copper in proven and probable reserves. Newmont's upcoming updated reserve

[faraway1]

It could be that Q3 will dissapoint. Keep in mind that copper is lower in Q3 and through the start of Q4.

[miningfundi]

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

[egss]

Murrays only 60 and he knows value of RC they do not want to sell we are in sweet spot in block cave in 12mos and YEs we neeed to see mine plan shortly whic should give us a big boost hope cu price holds on and we will be rewarded good luch to all....

[Temeraire2]

Agreed.  MF is way off talking about ME being near retirement....look at what he just did with CNQ's acquisition of Chevron's CAD assets.  All offence.  NEM's report will put the light on asset value and trigger the re rate - if we can call it that having no major FI assigning a rating.  Q3 should be a positive for the few of us who care at the moment.  Sip

[miningfundi]

My apologies guys, I was trying to say that ME and the key III directors are seasoned veterans who will not be prematurely rushed into a deal, not that they are asleep at the wheel. P.S. ME turns 65 on 12/10/2024.