Image Resources (IMA) is the buy of the week in The Speculator column in today's Bulletin magazine.
The buy was actually a top-up: The Spec already had some IMA in his portfolio.
The reasons for the unusual second buy-in are:
1. The low prices IMA is at of late due to tax loss selling. (It's way down off its recent $2.40 high.)
2. The Speculator's view that the company is now a potential takeover target.
He also thinks it possible that there may be a further Magnetic-like spin-off that could benefit holders:
"It was made clear with the spin-off of the second Magnetic earlier this year that Image wanted to concentrate on HMS [heavy mineral sands] on the northern Perth basin. Note that Image still has about six farmed out nickel and base metal projects in WA, some advanced. I shouldn't be surprised if some were spun off in this robust market, with rewarding results for Image shareholders."
More fundamentally:
"Image's shallow depth, high-grade heavy mineral sands (HMS) are without a doubt worth far more than the company's substantially undervalued market capitalisation of $154 million."
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Last
7.3¢ |
Change
-0.001(1.35%) |
Mkt cap ! $81.98M |
Open | High | Low | Value | Volume |
7.4¢ | 7.4¢ | 7.2¢ | $30.79K | 423.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 63796 | 7.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
7.5¢ | 15000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 63796 | 0.073 |
3 | 23833 | 0.072 |
1 | 55000 | 0.071 |
4 | 497320 | 0.070 |
1 | 12000 | 0.068 |
Price($) | Vol. | No. |
---|---|---|
0.075 | 15000 | 1 |
0.077 | 96639 | 1 |
0.079 | 16889 | 1 |
0.080 | 88620 | 2 |
0.081 | 4240 | 1 |
Last trade - 15.59pm 28/06/2024 (20 minute delay) ? |
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