Market craziness; example du jour

Let's choose Inca Pacific (IPR.v) to highlight this time. Let's not worry about the Magistral project, or its potential asset value, or that according to solid documentation (namely a 43-101 compliant final bankable feasibility study) the project is viable with copper at $1.50/lb (something that has been backed up by independent due diligence, too). Let's not even remind ourselves that thanks to Moly credits Magistral will produce copper at an estimated U$0.28/lb over its mine life. None of that. Just this:

Shares out: 56.6m
Current Share Price: C$0.18
Current Market Cap: C$10.2m
Cash at Bank (in C$): C$27.6m

Yes, that reads right. IPR.v has $17m more cash in its bank accounts than the company is worth, according to the market. Well that makes sense, doesn't it? Here's a link to the company website.

Inca Pacific (IPR.v): The junior miners fight back

Today I received a mail from Inca Pacific (IPR.v) that had a PDF overview of the company and its very nice Peru copper/moly project attached. The email and the PDF pointed out just how far the company has sold off and how ridiculous the current share price is compared to the facts about the company (which include the minor detail that even cash at bank is more than its current PPS...yes, it's gone that stupidly cheap).

I've always liked this company, and even visited its Magistral project site about a year ago (and was suitably impressed). So I'm pleased to see the "little guys" fighting back against this ridiculous market and getting back on the honest to goodness "look we're cheap" promotion trail. Here's a link to download the PDF overview of the company I was sent. It's only two pages long and downloads quickly, but it is packed with information that we can all understand and appreciate, and outlines the strong management team, the project and the current position of the company on the exploration and mine construction track.

Here's the link again, so there's no excuse not to download your copy. You'll be glad you did one day. DYODD dude, and that DD starts right here.

disclosure: none