Don’t miss the IMA train – once this goes above $2.30 it won’t be going back down until ex date of Emu Lake Nickel IPO (if that!) as shareholders will still be entitled to subscribe for new shares in the IMA float on around about 1:8 basis. Emu Lake is only one of the Nickel projects covering 54 sq km and contains approximately a 10 km strike length of ultramafics known to be prospective for nickel sulphide mineralisation. Previous exploration returned high-grade nickel sulphide intercepts from RC and diamond core drilling with grades including 7.55% at 0.3m, 7.08% at 0.17m and 2.28% at 1m. Subsequent drilling by Jubilee intersected further high-grade sulphides including 10.9% at 0.10m, 6.66% at 0.28m and 6.20% at 2m. These are outstanding grades in my opinion and there are indications that the high-tenor nickel sulphides on the main ultramafic contact extend for about 300m along strike and provide an attractive target for further drilling.
IMA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
