things i like about idm

I originally bought into IDM coz:
1) The mineral sands are exceptionally rich and contain up to 47% heavy metals!!! That's 5x the grade of many deposits!
2) One product is chromite. Used alone or mixed with zircon this material is used to mke moulds. The castings produced have a far superiour finish to that of 'standard chromite' (from S.Africa) and waaay superior to that of a zircon mould. This means the casting e.g. a cylinder head, piston, customised tool etc... requires far less finishing before use. Today labour is #1 cost. if a chromite product can save a lot of time/energy/labour.... and be a better product... then why wouldn't the BMWs, Mercedes, Jaguars of this world not want to use it??
3) Currently, almost all chromite sourced from S.Africa. Constant unrest makes me fearful for the country and god alone knows how much of anything it will be exporting in 10 years time. Even 3-5years will see dramatic change occuring esp as refugees pour into country from Zimbabwe, Congo, Mozambique etc. They work for half the wage of a local, and its causing huge friction.
4) IDM has 3 other products... ALL of which are saleable and highly profitable. Ask Iluka and read recent presentation. Even the iron product is worth quite a lot.
5) The plant should have hit full production 6 months ago. It's been one delay after the other. But main shareholders incl. Macquarie have kept faith and invested more money (as required) into this company. One assumes they have weighed risk carefully.

All-in-all it gives me hope and enough faith to own 100,000 shares. It's too early to double my stake, but if plant can hit its straps then SP will go north. Not totally risk free, but on a 2 year fwd PE of under 2. Spec BUY.
PS. Note there are about 20% options (many unlisted) that will convert over next few years and dilute holding.