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
6.5¢ |
Change
0.001(0.78%) |
Mkt cap ! $72.93M |
Open | High | Low | Value | Volume |
6.5¢ | 6.5¢ | 6.5¢ | $13.86K | 213.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 53579 | 6.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
6.8¢ | 18628 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 53579 | 0.065 |
2 | 168800 | 0.064 |
1 | 11160 | 0.063 |
2 | 32308 | 0.062 |
2 | 216361 | 0.061 |
Price($) | Vol. | No. |
---|---|---|
0.069 | 31081 | 19 |
0.071 | 18000 | 1 |
0.072 | 533786 | 2 |
0.075 | 40000 | 1 |
0.090 | 9959 | 2 |
Last trade - 15.11pm 18/09/2024 (20 minute delay) ? |
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