A gentleman's reply from a knowledgeable gentleman! I appreciate the time you have taken to reply to my comment. You are clearly a strong supporter of IMU. I wish you and other supporters well! I feel that we are in agreement .... you are making the point for me .... "You may well be correct that there are more late stage failures with drug development than mineral development. The difference is that it is likely to be final and leave little value in a drug development whereas a mineral deposit can be valuable if commodity prices rise, local infrastructure improves or the metallurgy is cracked." This is what I wanted to caution you and others about!
I can not agree with you when you say ..... "I would imagine that the chances of failure reduce, the further down the path a drug goes. It seems to be designed that way". Yes, the path to drug development is about proving efficacy and reducing side effects, but the chance of catastrophic failure rarely diminishes. I can think of many examples of late-stage drugs that did not make it to market. Worthless, after years and years of development. No mineral resource or reserve is worthless!!
At the end of the day, it is all about risk versus reward. CEO Leslie Chong is clearly doing a good job in this regard. Explorers south of Mt Isa and your other North Queensland Au-Cu explorers are also mitigating risk. It is your expertise in this latter area that continues to help many to remarkable rewards!
IMU Price at posting:
22.0¢ Sentiment: None Disclosure: Not Held
(20min delay)