Member Info for 6zeros

Looks like they sold 70% of an asset for $806 million lol..

Vancouver I March 10, 2019 I Imperial Metals Corporation (the “Company”) (TSX:III) announces that it has entered into an agreement to sell a 70% interest in its Red Chris copper and gold asset in British Columbia, Canada to Newcrest Mining Limited (“Newcrest”) (ASX: NCM) for US$806.5 million in cash, while retaining a 30% interest in the mine.The Company and Newcrest will form a joint venture for the operation of the Red Chris asset going forward, with Newcrest acting as operator.The consideration payable will be subject to customary adjustments for certain assumed equipment loans, working capital and non-financial debt at closing.

The Company’s President, Brian Kynoch, said: “This transaction presents a compelling opportunity for all stakeholders as it allows Imperial to significantly strengthen its balance sheet while forging a strategic partnership with a leading global mining company.We believe that this joint venture partnership will enable Imperial to unlock significant value at Red Chris by leveraging Newcrest’s unique technical expertise in block caving operations.With a stronger financial position and highly actionable path to exploiting the underground mining potential of Red Chris, Imperial will be in a much stronger position to create value and opportunities for its shareholders, stakeholders and the Tahltan Nation. Imperial’s portfolio of assets will include a 100% interest in the Mount Polley mine, a 100% interest in the Huckleberry mine and a 30% interest in the Red Chris mine together with a high potential suite of both advanced and early stage exploration projects including an approximately 50% interest in the Ruddock Creek lead/zinc property and a 100% interest in the Giant Copper property.”

And interestingly, Imperial metals jumped 56% yesterday!

http://prntscr.com/mwqvzk

Yes, agree on that. It's easier now to see what they have invested in.

Figures, much as expected. We can await news on payments from Ascendant now- should they continue (would be inclined to think so considering they have already expanded resource). If so another 750k due this year.

nice!

Nice video bud. It's definitely the right time to leave some cash in well run resource and mining co's. Large or tiny cap!

Someone could in theory. They’d get a bargain just now that’s for certain. Not sure Ascendant would just yet though, maybe when they get further down the line. There’s an agreement that Ascendant has first refusal in buying the whole thing out anyway. So will probably happen at a later stage if things get that far.

Right metal at the right time for MAFL .. just now sit and wait until zinc price blows and investors are going batsh*t crazy for small zinc stocks

sneaking up. Maybe a higher low formed.

As much as there’s some wiggle room for argument at wizzys calculations (I can’t be bothered to go into it, she’s got some fair and valid points - yet missed bits too).. I thought someone as wise as a wizard would have noticed a huge glaring mistake in trying to fathom out numbers and valuations.. I’ll give you 6 months to think about it. Then you can give me your answer.

trying.hard.not.to.bite

Jacques funny at the end- getting his two penneth in- “we’re trading at a discount to nav”...

new one Lewis on vox markets but lse are blanking their urls

Yes you too mate. Have a nice break.

It's a fair amount! But not enough to report. You've mentioned this on the Nav before.. But historically, the Nav has never been much above 7 a bit pence until now. And for over a year it traded well above it. Most of 2017 it was 2 x Nav and it was May/June18 when it fell below. As for trading it, I get what you're saying. Trouble is I work/run a business so can;t be staring at screens all day, and my previous experiences with trying to trade in and out of shares for a few quid fell flat on their backsides. I know my strengths. Persistence, patience and optimism.. haha.

horses for courses mate. I’d agree with your strategy for making a quick buck.. if I could be arsed taking a risk for a few hundred quid here and there.. but to get in with sizeable positions and get out again .. would be a huge risk with that idea. The figures are out there.. for anyone who can do the math.. looking forward over next few years into free carry of a huge asset. This price is a bargain, but only if you’re prepared to ignore the noise of those trading the dips like yourself ...

Yes there was a period of high sentiment and activity on here ( by all including me) , coupled with some good NAVs and first drill results. Think I first bought in around the 9-10p range around the time of a placing .. watched it go high then fall, and started buying more from around 13p all the way down to just under 7p recently.. I stated on here a while back, I probably would have cut for a break even or slight loss a year or so back had I not begun to see the bigger picture and conversed with Ceo a few times. I didn’t expect it to break lower than 8-9p though during the weakness.. so was getting a twitchy rear end for a few months in 18! But it gave a cheaper opportunity and am now bouncing around at and just under break evens at the levels we’ve been swinging about this year.

haha zan

Shares in Ascendant spiked to to around 15% gain at open but have steadied around 8% now.

Maybe the update is why we haven;t heard much from next LS steps.. now it's out of the way, possible update on that over next week or two.