http://www.kitco.com/pr/2074/article_04132011151833.pdf

As good as this latest report is, I am encouraged that the company still has barely touched the potential at its mines and property holdings. They control hundreds of square kilometers in this high grade district, with thousands of untested targets identified by shallow workings from historic mining, any of which could ultimately lead to a major deposit. IPT has already established that they can successfully explore and develop these prospects, and also that they have the operating strength to convert marginal mining widths into profitable production. Few other juniors have been able to do so on a small scale.

We also know that bulk tonnage zones exist in this district, based on the mined out areas from the past. The Aurora/Capire deposit is another known resource zone with potential for bulk tonnage expansion. My money is on another big discovery coming as the company expands its exploration work.

There is also the unknown potential for an additional gold district to depth that has never been tested, and would open up an entirely new dimension to the story.

I think IPT needs to expand operations and generate at least 1 million net ounces of silver production plus by-product credits to get more attention in this market. But the stock has indeed turned the corner and is now one of the sector leaders. The cash flow position of the company remains strong, and the share structure is still very tight.

You bet I am bullish. I took some profits earlier this year but I still own a large chunk of this one for the long term.

cheers!
mike