amazing, page-11

Pmunt,

If your reference is to what COE said, I can only assume COE have totally warped the facts.

Facts are that if you have a reliable forward cashflow of the extent IPM has, even allowing for a fall in the poo, then a CAPEX in the order of 30mm over 3 years is a breeze. What is more IPM can fund this with one hand tied behind it's back, ie by paying shareholders a divi of at least 18 (probably more) cps over those 3 years.

Anyone holding IPM is likely to have been quite long term, and therefore quite likely well versed in it's funding ability, and with not be perturbed by Hanc ocks scare tactics. Let's face it IPM had $17mm revenue for the last quarter, and a good third of that will go to the bottom line. A company like IPM does not need the balance inefficiency of a risky explorer holding heaps of cash - it knows where it's next meal is coming from.

If you are so confident of the takeover, and the undoubted value Scott is getting you should buy some IPM to get more COE even cheaper, LOL. If you don't have the cash just sell some of your much more liquid COE, LOL.

Anyway I am not going to spend a lot more time on the COE threads arguing the merits of IPM.

EL