IMA - Image Resources

[powerkoala]

it's finally breaking out after third announcements
guess market finally realize the potential of this
well.. just see where this will go next

 

[porkpie324]

Yes IMA have lacked comments on ASF, I'm a fan of David (the speculator) Haslehurst, I'm out of IMA at the moment I took some recent very healthy prophets and was waiting for a pull back which has'nt occurred, infact IMA did not suffer the recent weakness in mineral stocks, also has broken out of a trading range and could be well worth considering especially as David still has confidence with this company.porkpie

 

[Sean K]

Yes IMA have lacked comments on ASF, I'm a fan of David (the speculator) Haslehurst, I'm out of IMA at the moment I took some recent very healthy prophets and was waiting for a pull back which has'nt occurred, infact IMA did not suffer the recent weakness in mineral stocks, also has broken out of a trading range and could be well worth considering especially as David still has confidence with this company.porkpie

Yes, could have been analysed a bit more in the thread. Was looked at technically in the 'potential breakout thread'. Has turned out a good pick by whoever id'd it at the start. (sorry, need to look back..)

 

[Sean K]

Yes, could have been analysed a bit more in the thread. Was looked at technically in the 'potential breakout thread'. Has turned out a good pick by whoever id'd it at the start. (sorry, need to look back..)

Wilson highlighted it - well done.

 

[powerkoala]

Yes IMA have lacked comments on ASF, I'm a fan of David (the speculator) Haslehurst, I'm out of IMA at the moment I took some recent very healthy prophets and was waiting for a pull back which has'nt occurred, infact IMA did not suffer the recent weakness in mineral stocks, also has broken out of a trading range and could be well worth considering especially as David still has confidence with this company.porkpie

i'm out as well today.. well hope to reenter but seems it won't let me though
let see how it goes tomorrow
cheers

 

[speves]

What's making IMA interesting to investors (apart from just the massive HM discoveries) is the proximity of two larger miners to the Cooljarlo project. One of which is Iluka, one of the world's largest suppliers of zircon, rutile, ilmenite, leucoxene and synthetic rutile. Iluka has confirmed already that "Exhaustion of it's high grade resources is likely to effect production levels in 2007". That makes Image's HM find next door a very attractive prospect for them.

IMA's exploration director has already stated that any potential buyer will need to be paying between $3 -$4 a share before he will let the company go. I'm not sure that his valuation is realistic but it suggests the share price has further to go yet.

 

[Freeballinginawetsuit]

Most of you crew seem to be focused on the heavy minerals side of IMA and indeed its a great outlook. What the market seems to be missing is IMA's Nickle plays. Happy to post the info on the aforementioned if anyone is interested.
Nickle potential for IMA was why I initially entered them back in October and still holding. I really feel that this one has slipped under the radar and isn't even factored into their SP, Cooljarloo is taking all the spotlight ATM.
Their are many Nickle Hungry mid tiers in the area who no doubt will be willing to take up the JV's with IMA and fund the farm ins at no expense to IMA.

Will continue to hold as these guys have the golden touch ATM

 

[Crash]

So if i buy IMA shares today does that make me eligible for the bonus issue?

 

[olive_tree]

Just announced, record date now 26/2, ex date 20/2.

 

[Crash]

So what exactly does that mean in terms of those two dates?

 

[olive_tree]

If you buy IMA shares on or before 19/2 you will be entitled to participate in the bonus issue. If you buy them on 20/2 or later you will not.

 

[the barry]

If you buy IMA shares on or before 19/2 you will be entitled to participate in the bonus issue. If you buy them on 20/2 or later you will not.

Can someone please enlighten me to what the bonus issue will be in relation to. Also, what the thoughts are on it and whether it is worth investing in ima to gain exposure to the bonus issue

Thanks

 

[Crash]

Thanks olive tree. I also assume that the bonus issue will be on 26/2.

 

[olive_tree]

Thanks olive tree. I also assume that the bonus issue will be on 26/2.

No that is just the record date meaning shareholders must be recorded in the share register on that date to be eligible (ties in with the ex date). AFAIK there is no timetable for the float yet.

The Barry, look at IMA notice of general meeting dated 6/9/06 for details.

 

[gs07]

some big recent announcements - extension of target at cooljarloo north and acquisition of the bootine tenement. also some recent press in the australian in an article about zircon.

sp has bounced back strongly this week.

any views about where this is heading?

 

[gs07]

article in the australian:

"FORTY years ago the dream was that if every person in China would just manage to buy one pair of socks, then the Australian wool industry would be back to its glory days. Hold that thought - but substitute bathrooms with zircon ceramic tiles. Then think of all those bathrooms in China and India that are likely to be built in high-rise apartment buildings over the next decade.
But it's no longer just ceramics. While there are a couple of million Chinese wanting new bathrooms, there are also millions of Westerners headed down the geriatric road, which is more good news for zircon. Its status as an inert metal allows zircon to be used as a bone substitute for human implants. It also gets used in computer and TV screens.

A resources conference in Adelaide heard this week that by 2012 the world will be short of 200,000 tonnes of zircon. That actually represents a shortfall of about 15 per cent on that year's expected 1.4 million tonne requirement (which, as usual, will turn out to be a conservative call).

The zircon price has tripled since the early part of this decade to about $US900/tonne. Best guess: it'll go much higher.

Actually, local investors are spoilt for choice with zircon vehicles. Iluka Resources has been buffeted a little, but it's the biggest holder of land in South Australia's Eucla Basin, which seems to be zircon rich. We've heard that South Australian government people are talking about as many as 10 mines in the basin and are starting to think about the infrastructure needed.

The second biggest holder in that basin is Diatreme Resources, which has hit high grades at its Willy Willy prospect with magnetics reported 15km either side of the 3km-long strand the company has been drilling.

Bemax Resources is already a producer and it will be joined in September by Australian Zircon, which aims to be the world's third largest supplier of the metal.

Back in the queue are several promising up and coming players, including West Australian project owners Image Resources and Gunson Resources (which has all government approvals for its Coburn project), and Red Metal and Adelaide Resources in the Eucla."

 

[benwex]

Most of you crew seem to be focused on the heavy minerals side of IMA and indeed its a great outlook. What the market seems to be missing is IMA's Nickle plays. Happy to post the info on the aforementioned if anyone is interested.
Nickle potential for IMA was why I initially entered them back in October and still holding. I really feel that this one has slipped under the radar and isn't even factored into their SP, Cooljarloo is taking all the spotlight ATM.
Their are many Nickle Hungry mid tiers in the area who no doubt will be willing to take up the JV's with IMA and fund the farm ins at no expense to IMA.

Will continue to hold as these guys have the golden touch ATM

Free ball are you still holding IMA?? I want to know if there has been any developments on their Nickel opportunies that you mentioned some while ago...

regards,
Benwex

 

[Robroy]

IMA - The Speculator's buy of the week

Image Resources (IMA) is the buy of the week in The Speculator column in today's Bulletin magazine.

The buy was actually a top-up: The Spec already had some IMA in his portfolio.

The reasons for the unusual second buy-in are:

1. The low prices IMA is at of late due to tax loss selling. (It's way down off its recent $2.40 high.)

2. The Speculator's view that the company is now a potential takeover target.

He also thinks it possible that there may be a further Magnetic-like spin-off that could benefit holders:

"It was made clear with the spin-off of the second Magnetic earlier this year that Image wanted to concentrate on HMS [heavy mineral sands] on the northern Perth basin. Note that Image still has about six farmed out nickel and base metal projects in WA, some advanced. I shouldn't be surprised if some were spun off in this robust market, with rewarding results for Image shareholders."

More fundamentally:

"Image's shallow depth, high-grade heavy mineral sands (HMS) are without a doubt worth far more than the company's substantially undervalued market capitalisation of $154 million."

 

[gs07]

IMA also favoured by Fat Prophets. Don't know what their take on it is now, but they were valuing it at $3 back in january even before gingin additions and significant extension of cooljarloo nth. their fundamentals have only gotten stronger.

north perth basin supplies 25% of the world's zircon and IMA is now the largest tenement holder in the area.

i would think it inevitable that illuka or others would have to look at this seriously, especially with the grades being discovered.

 

[grace]

Don't see any posts on this one for a while. I hold (for about 12 months) and have quite a lot. They continue to find heaps of heavy minerals at a very good grade, but it seems the market has got bored waiting, and moved elsewhere. Now they are about to drill another 40kms at Cooljarloo (which will be 120 kms all up when finished). About March 07, I wrote to the MD asking when their first JORC would be out, with a reply of "only a couple of weeks". Still we don't have one. It will be huge when it turns up....I'm hoping soon. They are still working on it. My thoughts on this company are that the major shareholders (board members) are holding back on a JORC until they have drilled the thing to bits. My guess that they wouldn't want to sell with only half drilled. They are a takeover target....Iluka would have to be crazy not to make an attempt (search Iluka this morning I see their new prospect grading 1% to 16% HM). I think Image will average over 10% easy. They have grades to 50% and even above (with mineralisation to surface). Iluka's new prospect is 30metres down in comparison. I've been hanging on for the long run on this but patience is dwindling. Their day will come, I just hope it is soon......