No mention of a TSX listing was disappointing but that was about the only negative aspect about the quarterly. There are no cashflows from the new acquisition in the quarterly cashflow report - there will be a one-off adjustment between AMU & IMP for the net quarterly cashflow in Feb - also IMP has to pay AMU $4.34mil within the next week to settle the withheld amount for preferential rights - at least part of that will have to be added to the mezzanine debt facility as they seemingly don't have enough cash to cover it with only $2.5mil in the Bank at 31Dec. Probably no placement though at this stage. I believe the change of name to Empire Energy is still part of the process towards a TSX listing when a placement will be done to establish a float of shares on that Exchange.We will see the paperwork this week for the General Meeting to be held in early March for the change of name. I hope to heavens that we are not the party that is proposing a takeover of or a merger with AMU.
IMP Price at posting:
12.0¢ Sentiment: LT Buy Disclosure: Held
