I am a 'glass half empty' type investor and it takes a lot to...

I am a 'glass half empty' type investor and it takes a lot to convince me to buy. generally i stick with ASX200 stks with strong divs or obvious bargains like MAH.
But always have a couple of speccies in the portfolio e.g. MAK. I have bought and sold IMA in the past last exit was at 50c.
The JV announcement 3 days ago was exc news and i thought SP would jump. Afterall Iluka and TiWest control the world production of mineral sands. I can only assume that coming out during the Christmas break has meant it has been missed by the mkt.
Had another read thru stuff today and the JV together with the BRR interview convinced me IMA is severely undervalued. Didn't buy a truckload but certainly worth a punt even to a born sceptic like me.