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Given the recent comments by Cedbin, RiserThames, Freefaller and others I have to agree that IMC is making progress.

It is worth reviewing my previous comment made on the basis of IMC announcements and public information available on IMC regarding Valuation.

The company went through a rigorous valuation assessment when having its RTO, which related to the acquisition of the Karaberd mine, approved for the LSE listing. Among other requirements the LSE rule for approval that applied was a valuation of £30m. If you read through the Prospectus provided at the time for the RTO, 28th October 2023, a valuation for MVI, the takeover target, was given as a mid-point valuation of £42m being between £35m and £49m based on various criteria. This valuation was provided by worldwide Independent Consultants Alvarez and Marsal who had access to JORC compliant Karaberd Mineral Resource Estimate (circa 60% Indicated 40% Inferred) prepared by Australian Geological Consultants AMC.

The current IMC Market Cap stands at just £13.66m.

On the date of approval of the RTO the Gold Price was $2,007 Oz and Silver was $23 Oz. Gold now trades at $4,792 Oz and Silver at $75.66 Oz.

The Valuation prepared by Alvarez & Marsal did not include the Irish assets.

IMC has a JORC compliant inferred MRE for its Avoca assets and the impact of increased Gold, Silver and other metals prices on the valuation for its inferred reserves in its above ground spoils and tailings is significant as can be seen from the Table dated 30th March 2026 in the interim report just released per the link below.

https://www.londonstockexchange.com/news-article/IMC/half-year-financial-report/17528224

IMC has also recently released a report on its Wexford licence bringing another of its assets into the highly prospective category. It will be interesting to see how this is progressed.

https://www.londonstockexchange.com/news-article/IMC/results-of-laboratory-study/17473579

No doubt the Announcement of the renewal of the licence for another 9 years has been a major boost to the company's prospects, but so also has been the substantial increase in the Gold and Silver prices since the approval of the RTO in October 2023 when the IMC share traded at 3.00p. The shares last marked trade yesterday was 1.82p.

The IMC team has also been strengthened as announced recently. It is said that good projects and a good team are necessary for success.

As a current producer of Gold from its stockpile and a future producer of Gold and Silver from its underground mine IMC is going to be a very interesting stock to watch and especially if it broadens its liquidity base with a dual listing on the Armenian Stock Exchange.

IMC Interims posted - Great progress

Going through former IMC company Announcements it is clear that the company went through a rigorous valuation assessment when having its RTO, which related to the acquisition of the Karaberd mine, approved for the LSE listing. Among other requirements the LSE rule for approval that applied was a valuation of £30m. If you read through the Prospectus provided at the time for the RTO, 28th October 2023, a valuation for MVI, the takeover target, was given as a mid-point valuation of £42m being between £35m and £49m based on various criteria. This valuation was provided by worldwide Independent Consultants Alvarez and Marsal who had access to JORC compliant Karaberd Mineral Resource Estimate (circa 60% Indicated 40% Inferred) prepared by Australian Geological Consultants AMC.

On the date of approval of the RTO Gold Price was $2,007 Oz and Silver was $23 Oz.

The Valuation prepared by Alvarez & Marsal did not include the Irish assets.

IMC has a JORC compliant MRE for its assets and the impact of increased Gold, Silver and other metals prices on the valuation for its reserves in its above ground spoils and tailings is significant as can be seen from the Table in the annual report per the link below.

https://www.londonstockexchange.com/news-article/IMC/annual-financial-report/17304821

No doubt the Announcement of the renewal of the licence for another 9 years has been a major boost to the company's prospects, but so also has been the substantial increase in the Gold and Silver prices since the approval of the RTO in October 2023 when the IMC share raded at 3.00p.

For that reason, I believe it is not surprising that IMC has recently secured the services of Armand Pinarbasi whose CV is impressive to say the least:

https://www.imcexploration.com/corporate/board-of-directors

IMO the IMC share price rise is the product of all of the above and as a future producer of Gold and Silver it is going to be a very interesting stock to watch and trade especially if it broadens its liquidy base with a dual listing on the Armenian Stock Exchange.

Armand Pinarbasi (https://www.imcexploration.com/corporate/board-of-directors) great addition to the Board as the company enters a significant growth phase.

IMC is on the move!

Yes. Go to the heading 'Corporate' and then scroll to 'Corporate Documents' and you will see the prospectus pdf on the right hand side.

The IMC Prospectus can be found in the Corporate documents section of the IMC website.

The IMC Prospectus can be found at the link below:

[LINK REMOVED]