IMPERIAL METALS $12.30 - Toronto symbol III

IMPERIAL METALS $12.30 (Toronto symbol III; TSINetwork Rating: Speculative) (604-669-8959; www.imperialmetals.com; Shares outstanding: 74.9 million; Market cap: $921.3 million) has split its shares on a two-for-one basis. That should make the shares more liquid and help the company attract more investors.

Meanwhile, Imperial’s cash flow per share rose 17.8% in the nine months ended September 30, 2011, to $0.86 from $0.73 (adjusted for the two-for-one split).

The company aims to use the cash flow from its Mount Polley and Huckleberry mines in B.C. to build a mine at its Red Chris copper/gold property in northwestern B.C.

Imperial’s prospects for higher production could also make it a takeover target.

Imperial Metals is a hold.

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