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Author: bloodninja Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5  
Subject: Re: Idaho General Mines Inc. Date: 9/12/2007 3:27 PM
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I have been following this one since about April. I bought @ $4.95 and have been adding to my position every chance I get more money. Molybdenum is used as an alloying agent because it has one of the highest densities and melting points of any metal. The name molybdenum itself means "like platinum."

About the potential buy-out, according to Google Finance, GMO employs 8 people. Obviously, this is a tiny operation which makes me think that they contract out a lot of their work. The Mt. Hope and Hall-Tenopah projects are not hteir only ones, this company has been around for 85 years so they've been doing mining elsewhere for a long time. Also, the company just relocated its headquarters from Spokane, Washington to Colorado. They've also opened up an office in Arizona to search for engineers and specialized professionals to come on board. Now yesterday they announce they will be merging with General Moly, Inc. which they started in Delaware. When the companies merge (pending shareholder approval on Oct 4) General Moly, Inc. will become the name and the company will officially be incorporated in Delaware.

Excuse my ignorance, I'm new, but what are the benefits of relocating in Delaware? I'm assuming there are more beneficial laws related to corporate financing? Also, do all of these moves seem to support or refute the idea of a buy out? The mine has a highly productive stage of ~20 years. If Mo. prices continue to climb (look at the price over the last 15 years) could it be more profitable for GMO to finance this project by issuing more shares and operate the mine(s) themselves? I know these are highly theoretical, just hoping for some ideas. Thanks.

-justin
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