Stock price when the opinion was issued
He can’t find another good quality pure copper Canadian producer. This company is hinging its future success on a large mine in Panama and hopefully they will have it completed by 2016-2017. Thinks the market will be short of copper supply next year. Feels it has an NAV of about $80 a share and doesn’t know why it can’t trade at that amount.
Has an offer on the table from First Quantum (FM-T). He has not tendered his shares nor does he intend to on their 1st offer which he feels is highly undervalued. Inmet’s Panama mine is one of the premier copper mines and will be on stream in the 2nd half of the decade.