I think this is a market for buyers to sort through and pick the best juniors at what will be seen as bargain entry levels. The entire sector is held up by distractions with the direction of the overall economy and we are in the latter stages of the summer doldrums when trading volumes are low and the stock will often trade higher or lower just on the basis of whether the last trade was a market buy or a market sell. In such an environment I do not expect IPT to break out and really shine regardless of how positive the fundamentals are right now. The market does not seem to be making decisions based on which company is building a stronger balance sheet, or growing its operations. Right now it looks like people wake up in the morning, look at whether silver is higher or lower, and then buy or sell on that data alone. Only a few juniors that have posted homerun exploration numbers have really made much of a move lately. So it is very hard for IPT to gain any real traction and that is great news for people that want to patiently accumulate.

When the market heats up again in a few weeks, and money flow starts to roll in, trading volumes increase, and analysts become more active, then I would expect that IPT will begin to outperform the rest of the sector. We will still be at the mercy of silver in terms of setting sentiment, but the strong fundamentals for the company may attract some attention from newsletter writers and encourage more people to get interested.

To my mind there is no better junior mining stock on the planet, in terms of providing leverage to discovery, current strong operating results, future growth, positive share structure, proven management, and financial strength. There are many companies that compare well on some of the above points, but no other company with a market cap even close to IPT excells on all of the above. That is why I own it and continue to expect it will break away from the pack in time.

cheers!

mike