Inca Pacific's (IPR.v) news today is very good

The Magistral site. The copper comes from
the head of the valley

Weird timing. I revisit Inca Pacific (IPR.v) (IPRFF.pk) yesterday, and today the company announces another very positive piece of news. Kinda reminds me of what happened to GLQ.to when I posted on it*....nah....let's not dream down that lane today.

Looking down from the valley head

Anyway let's get down to business; the IPR.v news is very good, and here's the link to the company's press release. In a nutshell, IPR has been given a thorough financial and operational examination by the bunch of dudes at Pincock, Allen and Holt (PAH)....

These are serious, serious mining
dudes, and they like IPR

....and the result is a veritable thumbs up. What this kind of third party consultancy does is to take a magnifying glass, a telescope, a fine tooth-comb, a Geiger counter, a carbon 14 dating machine and whatever else they can find** to all the details of a project and try and find what they call "fatal flaws". In this case, although there are a couple of things that IPR needs to attend to (totally normal for a mining project), there are no such fatal flaws in the feasibility study, and these PAH guys know... cos they're good....and we know they're good. That's cos PAH work on all the world's major projects and have the topmost of top reputations in mining. Don't believe me? Well click on this and have a look. They're also the consultancy dudes that go to the banker dudes and say "hey, this project rocks" or "watch out dudes, that project sucks", and so with the positive approval shown by PAH in this report IPR is in a very strong position to move forward and secure project financing at the correct moment.

A moment I hope will never come, cos IPR.v still has "buyout" written all over it, and with luck that buyout will happen before IPR starts talking financing with some bank. On this point, the PAH report had another dose of very good news for shareholders (I've had a quick squint at the executive summary, as some fool mistook me for an executive). According to PAH, once the adjusted market values for copper and moly are taken into consideration the new NPV (net project value...aka what the joint is worth right here right now) is U$206m. Now that totally rocks, dudes, because with IPR currently having a fully diluted share total of 62.074m shares, this would mean that each share, right now, is worth U$3.32. If you compare that to the C$1.58 closing price on Friday, you can begin to understand why I like this company so much.

There's more to it than all that, of course. But in any buyout talks, IPR has an extremely strong case to say, "Look, Mr. Minebuyer...PAH totally rocks and is the best in this biz...and they say we're worth U$3.32 a share. So put up or shut up." And somewhat coincidentally (??), I'm pretty sure that U$3.32/share is just the kind of ticket price that block shareholder Eric Sprott will agree to.

So it beats me why you're still reading this post, frankly. Go buy some IPR. If you do, there won't be a single miner worth his salt that says you haven't bought a bargain.

*it was bought the very next day
**only joking