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View Full Version : Miner's Trouble? or Buying Opportunity? (IGMI)


Steve Young
August 1st 06, 11:13 PM
IGMI (OTC)
http://www.idahogeneralmines.com/igmidir2/investors.htm

Prospectus filed 8/1/06
<http://www.sec.gov/Archives/edgar/data/1275229/000105291806000525/prospectus424b3.htm>

IGMI has a world class open pit moly project in Nevada, which they are moving
toward bankable feasibility/construction. They have an excellent management
team, the stock has traded between $2.50- 4.00+. Today it ran up to $3.35 and
then immediately dropped in 2 steps to close at $2.24 a share. In checking
their filings, I see they filed a prospectus and are desiring to move
to AMEX. The prospectus also refers to a registration of 39,814,140 new
shares. Possibly a 'shelf registration' for the anticipated cash requirements
of construction?, (they currently have about $25mil in the bank), don't know,
trouble, or buying opportunity?

*thanks!*

Steve Young