IDM Mining Ltd. (fka IDMMF)

[davewashdc]

I have 100K shares. Looks like first pour isn't until late 2018 or 2019. Buy out before then more likely. I guesstimate they will encounter more veins of au and ag ore underground and on the surface of the property before then.

Unless they make a big strike, (none of the 2017 work is entered into the just-completed feasibility study), I again guesstimate that we are talking about 1 million 0z of AU and 3 million Oz of AG reserves. With a current market valuation at about $40 M, it becomes a more attractive target for buyout the closer it progresses towards first-pour. Seems to be where McLoed's head is realistically at: https://twitter.com/goldfinder12

In the company's presentation (page 26) seems like idm is at the bottom of the current Price to NAV list of comparable small mines (both operating and not yet operating). They range from a market cap of $340 M to $1.2B. If idm has the reserves I guesstimate of 1M oz of AU and 3M oz of AG; by first pour a mid-range market cap of about $0.75B should be a reasonable guess at this point. A roughtly 20 X market cap increase makes it pretty cheap pickings at this point. 5X a market cap increase (or $200M) would still leave the buyer with a roughly 3X increase in value to be reaped from the adjoining increase from the development of the reserves.

Of course, any eureka moment/discovery from here to there changes the game dramatically to the upside. The feasibility plan appears to define a limited downside risk in the event of no more discoveries. According to the company's schedule of near term deliverables (prsentation page 29) surface exploration and drilling are now underway and they will update resource estimates
in Q1 of 2018. Environmental certificates by 1st half of 2018.

With a "geologic analogue to KSM" and no significant exploration work done since 1996 (page 23) the future looks promising indeed.

So far they have done everything they said they were going to do to date, and roughly on schedule. The above sure paints a pretty picture. Oh, and the shares are 80% owned by the big guys (33% by other mining companies).

With the price of gold under china/india/russian pressure, I really like the odds on this one.

What's to not like about the above picture?