It looks like IPT will have to break above 60-61 cents to rise above the downtrend line since July of last year.

http://stockcharts.com/h-sc/ui?s=ipt...

We may need to see base metals recover in order to get that tailwind to support the stock and sustain buying. Keep in mind that IPT has been stockpiling zinc cons since the smelter is paying so little for it. If zinc prices recover, and that could happen since China has been an aggressive buyer and stockpiles are in decline, then the extra revenue generated by the zinc concentrate sales may be enough to create a very strong quarter for IPT.

Lets also keep in mind that IPT is currently mining silver-rich zones but they have lead-zinc rich ore feed that they could run in bulk tonnage very quickly when the prices rebound. The Gallega Mine has some veins of greater than 10m width with higher base metals content. Its lower grade overall but very low cost to mine since so much tonnage can be extracted with minimal dilution or development expense, and its less than 100m from the processing plant. So any improvement in the base metals is going to make the operating results much stronger for IPT. If they can sustain the increased production levels to near capacity at 500tpd, then IPT could easily become a $1 stock again.

cheers!

mike

Personal disclosure: IPT is a paid advertiser on my website and I own shares.