Industrial Minerals Corporation (IDM)

[Huang Chung]

Have re-entered this beaten up old favourite of mine.

Been in an uptrend for a couple of weeks now, but has blasted out of the blocks today with a near 40% rise on no news :eek:. Currently 8.9c.

Giddy-up! :)

http://www.industrialmineralscorp.com.au/

[Dr_Who]

HC, whats all these chromite, garnet, zircon, ilmenite, magnetite, kyanite and stauorlite? Sounds like something out of Superman.

Can you give us a summary on this company?

[Huang Chung]

HC, whats all these chromite, garnet, zircon, ilmenite, magnetite, kyanite and stauorlite? Sounds like something out of Superman.

Can you give us a summary on this company?

The main game is chromite for the foundary sands market. Project is located at Coos Bay, in Oregon. The main game is chromite sands, that will be targeted as a substitute for the more expensive zircon sands in foundary applications. The chromite sands at Coos Bay are largely round in shape which allows for a smooth finish for castings. Most chromite sands don't have this characteristic.

The 'industry info' tab (under 'Investors') on the www.industrialmineralscorp.com.au (http://www.industrialmineralscorp.com.au) website has lots of useful information for you to pour over.

Here are the latest three posts.

http://www.industrialmineralscorp.com.au/pdfs/industryinformation/IM_ORC_article_June_12_2009.pdf

http://www.industrialmineralscorp.com.au/pdfs/industryinformation/SME_ORC_Manuscript_2009.pdf

http://seekingalpha.com/article/96172-chromium-more-than-fancy-trim

[whirly]

Anyone else on this one? Results from drilling programme in Coos Bay due very soon with mining to commence in fourth quarter.

Buyers been snapping them up above 15c.

DYOR http://www.imcl.com.au/

[whirly]

Anyone else on this one? Results from drilling programme in Coos Bay due very soon with mining to commence in fourth quarter.

Buyers been snapping them up above 15c.

DYOR http://www.imcl.com.au/

Something ups. Share price up 12.5% today to 18c.

[COLIN]

Something ups. Share price up 12.5% today to 18c.

Has caught my eye, but I haven't studied in depth. Perhaps an equity partner? Or do they have enough cash to complete the processing plant? The last cashflow report showed only about $3m in kitty.

LATER: I must say, though, that from a TA point of view I can see nothing in the charts at this stage that would encourage me to invest.

[Huang Chung]

Hi Colin

My broker is quite familiar with IDM, as well as Papillon Resources (PIR) and Beadell Resources (BDR).

He reckons IDM is probably good for a move into the low to mid twenties, but BDR and PIR could double in a matter of months.

It will be interesting to see if he's right.

[COLIN]

Hi Colin

My broker is quite familiar with IDM, as well as Papillon Resources (PIR) and Beadell Resources (BDR).

He reckons IDM is probably good for a move into the low to mid twenties, but BDR and PIR could double in a matter of months.

I will be interesting to see if he's right.

Thanks, HC.

[whirly]

I suspect it's Coos Bay drilling results. I was not actually recommending anyone get in at this level but rather wondering if anyone else was a holder.

http://i867.photobucket.com/albums/ab238/whirlynz/TA%20Charts/idm_ax_price_daily08apr09_to_03nov10.png?t=1286967 206

Thanks for alerting us to those HC their charts also look pretty good from a cursory glance .

[Joshuatree]

IDM is still in the low 20's (+recent cap raise @20c) mkt cap $120mill and is nearly derisked with the mill in final stages of commisioning. With a unique product the market wants i finally bought my first lot today.The future looks great for IDM.

[Joshuatree]

IDM first sales of spherichrome announced. 11,000 tones to china some encouraging news at last after continual ramping up probs.Shareprice has been trashed with all the uncertainty plus global mkt conditions All Zircon pre sold. Spherichrome target of 95,000 tonnesw a year by 2013 . It is a replacement or blend with zircon which is currently re $2350 tone. Low grade sth african chromite re $500 tone so theres a lot of upside for spherichrome with its unique superior qualities. IDM current mkt cap re $42 million. Long mine life.