Yeah, far too technical. The average punter wants to know when the drilling will start, how many metres and expected timeline for assay results. Keep it simple.
Broken Hill is far too big and costly for IPT to manage, as is Commonwealth. Time to divest both through sale or jv and concentrate on the project they can actually handle.
By eliminating the two most expensive projects, IPT can put their efforts into Blackridge as a priority and Clermont as a secondary project. Both are in the same vicinity and can be worked in conjunction.
The company will need funding by the end of the year imo, so I would dispose of Commonwealth altogether. Start shopping it around once the updated jorc resource has been completed.
A farm out of Broken Hill would be my prefered option here as l believe it has the greater potential of the two main projects, but is also too costly for IPT to undertake the necessary exploration to move it forward at anything other than snail pace.
This has been the problem for the company for such a long time. Broken Hill has been ignored despite great potential so IPT could concentrate on Commonwealth Hill, which is also moving at glacial speed. It's been our main focus yet hasn't had a jorc upgrade in years despite numerous small (and quite ineffective imo) drilling programs.
The company has to address the market perception of wasted time and resources by laying down a blueprint for future success. Time to sure up the company by rationalising assets while they still have a few dollars in the kitty.
Last year the planned Broken Hill jv fell over so there wasn't much IPT could do about that. This time they need to look for a stronger partner, not another wannabee explorer that panics the moment the market fluctuates.
We have 6 potential valuable assets: Commonwealth Hill Broken Hill Blackridge Clermont Mulga Tank 2m Pacton shares.
I want to see a presentation outlining how the company plans to deal with each asset.
Mike missed a trick by not releasing the RIU Conference presentation from a couple of weeks ago. It gave a good outline of the conglomerate gold potential at Blackridge. It is also the next project to be tackled. He said the company would start bulk sampling on the granted mining lease in early April. 6x 25t samples along the edge of the exploration leases, which are the most prospective ground but can't be bulk sampled until they become mining leases.
This news should be promoted, not some highly technical mumbo jumbo from never never land. Keep that info for any potential jv partners. The geos can have a field day with it all, but most punters don't care.
I know a scientist who is highly intelligent and who had a plan to develop waste lands through using microbes. I saw his lab results and trial plots, so threw about $10k of seed capital into the project back in 1996 along with a few family and friends. The plan was to list the company on the ASX. I'm still waiting for him to get the idea off the ground. It will most likely never happen as he won't give up control of the project because he owns the patents. He is the wrong person to promote the project and should stick to the technical side of things. A great idea that will probably never see the light of day because he can't relate to potential investors, but also won't step away and give up the total control he has as the major shareholder.
Moral of the story: Being the smartest person in the room doesn't guarantee success.
IPT Price at posting:
0.9¢ Sentiment: None Disclosure: Held
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