ilu and ima and emu lake ipo

I am interested to hear what ILU holders think about IMA? IMA has tenements located within close proximity to ILU in the North Perth Basin which appears to be the focus for IMA. I'm not sure if North Perth Basin is a major focus for ILU or not.

IMA also has some nickel assets it will be spinning out and there is significant value in these alone. Hence IMA may be a good junior punt if you take into account the proximity to ILU plus the nickel assets. My posting on IMA was as follows:

I have spent considerable time researching this stock and specifically the upcoming nickel IPO which I find has strong value in itself to shareholders. I believe that an ex date will be assigned to the stock in early November with shareholders holding at that date receiving a 1 for 2 in specie distribution. As approved at the meeting in October, a further 40 million shares will be offered to the public and current shareholders at a price of 50 cents. From listening to the latest Boardroom radio post on the IPO I have worked out that the entitlements to shareholders (on top of the in specie distribution) to gain a further shareholding in Emu Lake Nickel IPO will be around 1:8. George (MD) stated on Boardroom radio that IMA holders would be entitled to around $5 million and if you do the calculations that equates to 10 million shares. IMA currently has about 80 million shares on issue hence 1:8 appears likely. Management has had a successful history of IPOs with their latest (Magnetic Resources) listing at around 60% premium on day 1. Over the last couple of months there has been significant institutional and private investor support and today there was an announcement of further support. The nickel projects appear to be of high grade and consistent with Jubilee’s strategy of being involved with high grade nickel projects. I see significant short term value in this stock leading up to ex date and depending on other announcements this could hit its valuations put out by Fat Prophets and RM Research a few months ago of $3. As always, please conduct your own research and my postings do not mean that the share price will go up so you should not buy solely on this information alone.