ugly duckling

IRL is increasingly like a good contrarian investment. It has a $5M market capitalisation and the stock has lost 60% of its value in the last 6 months. However, the fundamentals are don't support this devaluation:

1. Assets--profitable copper mine in India; strong contract pipeline; MOU with large strategic KOPEX; and a suite of exploration assets;
2. Management--the MD, Arvind Misra, is one of the most highly regarded mining engineers in the Country. Large team of skilled, low cost, mining labour in India.
3. Timeframe--contract mining already profitable. Strategic has agreed to cornerstone stake. New contracts in the pipe.

This is looking more like a turn around to a beautiful swan in the short term.