Could Imperial One (ASX:IMP) be the next penny stock to move?It...

Could Imperial One (ASX:IMP) be the next penny stock to move?

It owns 15.5% of Bemax which in turn is to announce the offers for the funding of its Gingko project some time this month. If all goes to plan, they could move from a junior explorer to actually mining one of the largest mineral sands deposits in the Murray Basin starting first quarter next year.

It is interesting to note that CRISTAL has backed Bemax and could end up with 49% of the company.
Bemax has also already signed contracts for over 90% of the Gingko production to CRISTAL and Dupont.

CRISTAL is a large privately owned Saudi Arabian company and is the only producer of titanium pigment in the Middle East Region.

DuPont is a large US based company and the world's largest titanium dioxide pigment producer.

In the last month the BMX share price has moved from 12c to 18.5c today and looking very strong.
The interest in the last few days has been quite interesting with some much larger ($$$) buy orders.

IMP on the other hand has maintained its value over the same period. At the current BMX price, IMP is very much undervalued at $0.005 and has unbelievable leverage. I would expect a decent hike in BMX, if the pending funding announcement is positive, which should provide a re-rating for IMP as well.

Read both company's recent announcements and do some reseach.