Well, let's take a look at what has happened with this company....

Well, let's take a look at what has happened with this company. Prior to being IDA it was of course IXR (IMX Resources) and when I bought in it was showing quite a bit of promise. That was until the Termite Resources saga reared it's ugly head. The SP then dropped or should I say plummeted. Subsequent to this Phil Hoskins told us splitting up the company would realise better gains for SHs.
In the latest Letter to SHs from IDA, it states re the value of splitting the company up: "To put that success into context, prior to the spin-out, IMX Resources had a market capitalisation of $6.0 million. Collectively, Graphex and Indiana combined now have a market capitalisation of $30 million." I don't know what anyone else thinks about this statement but it seems to me that it could be interpreted as SHs getting a 500% increase in value right? Well such an interpretation would be just plain wrong. GPX started with an IPO of $7 million and the in species distribution to IXR shareholders. So a large amount of the capitalisation of GPX belongs to those 35,000,000 IPO SHs which shares were issued at 20c each and now are worth more than double on today's SP, only some of it to the then existing SHs of IXR.
Regarding my initial investment in IXR, if I combine the value of my IDA shares and my GPX shares, I am still substantially down from my buy price, in fact I have lost more that 50% of my original investment.
So while it is true that there has been an increase in value of the in species distribution of the GPX shares, it really is paltry in relation to the battering that the IXR SP took when the Termite Resources saga took place. Of course as time goes by, new SHs come in, company names change and the events of the past are forgotten or not researched by new SHs.
In my position with the 2 companies, IDA and GPX, I hold in the hope that one day I might get somewhat close to my original investment back. Still a long, long way to go ...