This a companion tip for IPT on fundamental grounds. I put IPT in as a tip when it was trading at 1.4 cents. It only managed to achieve a 16% gain in the 4 week time period (1.8 cents) but a week later was a 70% gainer (2.4 cents). Tipping it again because I think there is a lot more in this stock to come.
Below is a video of the presentation given by the CEO during the week at the RIU conference in Sydney. He restricts his presentation to the Lake Hope project but IPT has several other things on the go.
#1. Recently completed a RC drilling campaign on a REE prospect. The deposit is a shallow clay at a depth of 50 metres. The samples have been screened in house (prior to sending for assay) using a hand held XRF which can only detect the light rare earths but gives some indication of possible presence of the heavy, more valuable elements. Assays should be back in 4 to 6 weeks. Being a clay deposit the hope is it is ionic in nature (those tests come later)
#2. IPT recently won a WA grant for $180k to drill test another project looking for copper. Probably something which will happen next 1/4
#3. IPT is in discussions with parties to JV another set of tenements they hold around Broken Hill (maybe nothing comes of that)
#4. IPT has about $3M options about to expire but on the current SP they are in the money and will likely be exercised (so no short term CR worries.
