InMed Pharmaceuticals Inc. (INM)

[amarksp]

INM about 75% finished in its road building at El Tesoro. Roads are needed to get to the trenches and future drill holes. Should have additional trenching results/news release in next 7 to 10 days. News releases on trenching will be released zone by zone.

Game plan is to finish constructing the roads and continue mechanical and hand trenching while performing "detailed geologic mapping and sampling".

Will start drilling holes in mid to late February to prove up trench results. INM is not sure how many holes will be drilled yet since this will be largely determined by the roads built, mapping, and trench results, but should be around or over 20 holes. Holes are only 200' to 400' deep, so not an expensive drill program and road construction expenses will likely exceed drill expenses, i.e. INM should have enough cash without PP anytime soon. Initial drill hole results should be in a late March news release, and like trenching, will be released on a zone by zone basis over several weeks.

Based solely on the very positive trenching results ( http://www.northair.com/international/news_releases/pr122303inm.html ), it seems a reasonably safe bet to assume the drill hole results will be quite favorable as well. Accordingly, I added about 1/3 to my position today. INM should reach C$2 per share IMO over the next 90 days, given that POG does not fall off a cliff...

FWIW, on INM's other property (in Durango), there is a chance that some CKG publicity may rub off on INM and vice versa as both companies have mines in near proximity to one another... CKG's Cucaracha Dorado property is located 20km or so from INM's, in Durango State.


See prior post http://www.investorshub.com/boards/read_msg.asp?message_id=1619797 which seems to indicate everything going as expected...