a comparison with dom, page-9

Another thought, for what it's worth...

If you were going to invest in a new gold explorer running an IPO with an unknown team from the West...you would be hard pressed to find a more impressive 12 months than what Matt Wood and his team have put together on IBerian throughout 2005.

I hear an interesting anecdote about IBR some months ago and it related back to late 2004 when they came across to the East Coast to promote their float. Well, as it happens they wandered into this little firm that underwrites mining IPOs for every little dog stock you can think of and they knocked back IBR quick as a flash

"Your too young and inexperienced" they were told.

And so our little underwriting firm missed its opportunity to get in on the ground floor with Iberian. Instead they just went on about their business with its array of Usual Suspects that pop up on every second float, (and which go-pear shaped once they hit the boards). Naturally, they also missed the opportunity to particpate in IBR's recent 30c placement.

Hey, come to think of it....you know, IBR never did trade at its listing price after the IPO, it came on at a premium and rarely looked back. Same occurred with the 30c placement...while every stock that has raised funds recently seems to drift back to the placement price Iberian (and BLR come to think of it) never did.

Now of course, mining is a tough game, and their are no guarantees but it seems to me IBR have had a bl00dy ripper of a 12 months...even though its only been in the last month or so that the re-rating has started to occur.

Well...enough drivel from me...I'm off to bed.

Coop