Image Resources (IMA) - Profitable Miner Aiming for Significant Growth, page-5

Ima reminds me of RMS a few years back when it was trading at 16-17c . They had profitable operations, were net cash but the short mine life was considered by the market to be a detractor . Over the next few years they used their cash and cash flow to grow through acquisition and exploration and development and the SP grew 10 times. I think IMA has very similar growth trajectory and has the cash and cash flow to fund Atlas , Biddimina and at least one more growth engine whether it be gold or mineral sands .

I also like how PM basically confirms the intention to pay a dividend at similar levels while also recognising most of the cash flow is best spent on growth

i also like the positivity of the gold prospect and when one pays attention in how the deal was struck it becomes easy to see how these guys can create value from limited outlay ( sub 2 m )

if Biddimina can get up for 10 plus years of operation ,and the other 10 projects within portfolio can continue to deliver 70-80 m cash flow a year we could be in a position of having 120 plus a year to fund growth . That is a lot of growth optionality.

It’s easy too forget that current valuation on current prices sits at 38c NPV with 50 m for all the other growth prospects including Biddimina the kings gold prospect and the other 10 identified portfolio resource opportunities . This could be a 50c stock within 2 years