Post by
modulex on Aug 04, 2022 3:10pm
DONT TOUCH AT "IMG" UNTIL FINANCIAL PACKAGE IS ANNOUNCED
Listening briefly to this morning conference call, management is committed to pursue the COTE project. The CFO and Interim CEO both mentioned that there will be different types of capital infusion, namely the sale of ROSEBEL, which they say, is at an advanced stage of discussions. There is however a big question mark as to what will SUMITOMO METAL & MINING, holding an approximate 35% stake in the COTE project will decide further, as to come up with more money to help getting the required funds needed for COTE and thefore require its 35% of ownership in COTE to increase? There will definitely be an important dilution of shares, which bodes badly for the stock price to remain depressed for quite a period of time. IMG's share price will not return to $3 until the company is ultimately force to abandoned COTE or management throws up the towel and ultimately agree to a takeover or merger.
Comment by
SIGG1 on Aug 04, 2022 3:38pm
I'm so glad I sold this garbage. Will never touch this P.O.S. again.
Comment by
greendayyyy on Aug 04, 2022 5:00pm
It's been garbage since their introduction on the stock market. If you want to know how to destroy a company the choice is simple IMG. A team of managers experiment to destroy everything in their path.
Comment by
greendayyyy on Aug 04, 2022 5:08pm
This company is a real disgrace for Canada.