and we have liftoff, page-21

DT et al, spent some time today going over co ann (in between checking the solid prgress of the sp), to try to get a feel for the value of IMA. As Stolwyk pointed out, the continual upgrading by drilling, plus now the expansion of prospects to triple the ground (containing deep channels from older mezozoic deposits) is making it very difficult to quantify value.
For a start, most of the announcements have listed results that are calculated from visual assessments made in the field before the samples are sent to the assay lab. So far, when these samples are assayed, the results show a 50% increase in grade and value. We have not yet seen any attempt to place a resource value on even the very limited proportion of the resource which has been sampled.
The paydirt article pointed out that the potential was so vast, and increasing as new channels were being discovered, that any attempt to deliniate the resource was continually being postponed as more drilling results came in.
The success rate indicates that Image have certainly developed the technology to identify where the HM are.
The discovery of the thicker, deeper channels have also considerably extended the known resource, and now that they have introduced a deeper drill, we should see even greater extensions.
And now that the new ground that magnetics indicate contains further significant deep channels over a huge area (twice the area they have only partly drilled so far), the potential volumes are almost mind-bogling.
We probably won't see a resource estimation covering most of the ground for some time, but remember that Geo S during last year put a value on what had been identified then. He suggested that by Xmas the sp should be $4.50. Well since then there has been the addition of more deep channels, and now the tripling of the prospects.
Must admit that I have been eyeing some other very positive looking spec stocks, thinking that I was ready to make my next move, but really, the prospects here are such that I just can't afford to think of selling these. Imo, this could be a multibagger even for those buying now.
And prospects of a takeover, - I'm coming to the view that the total holdings are too rich for either of the neighbours. One possibility would be to split off different areas. Alternatively, as the neighbours run out of resource, their facilities might be useful to Image. What has been discovered here will keep a lot of people busy for a long, long time.

Hold tight guys.