Dissapointing we can't trade it until Friday, but reasons were clearly explained last night.
That's the third time IMP has said it expects Earnings per year of $USD 8 million. With Macquarie debt now drawn down, there is no way macquarie would let management say that without meaning it. Anyway after last nights management announcement we maybe surprised by what we see when empire is consolidated into IMP, ie: all that revenue that we've been looking for from those successful wells last year!!!
IMP will have significant interest costs of course, but still a multiple of 5-7 times seems conservative given growth potential, a significant re-rate towards 2 cents seems assured. (I don't like saying that, but can't see it any other way)
IMP Price at posting:
9.0¢ Sentiment: Buy Disclosure: Held
