Pick of the Junior Mining Stocks – New Mines Will Let These Two Keep Growing

Article Excerpt

IMPERIAL METALS $9.50 (Toronto symbol III; SI Rating: Speculative) (604-669-8959; ww.imperialmetals.com; Shares outstanding: 32.7 million; Market cap: $310.5 million) is a Vancouver-based mining company that explores for and produces base and precious metals. Its producing assets are a 100% interest in the Mount Polley open pit copper/gold mine in central British Columbia, plus a 50% interest in the Huckleberry open pit copper/molybdenum mine in west central B.C. In February 2007, Imperial acquired the Red Chris copper/gold property in northwest B.C. Imperial now aims to build a $228 million open-pit mine on the property. Imperial also explores for gold at its Sterling property in Nevada. In 2007, Imperial Metals’ revenues rose 25.3%, to $265 million from $211.4 million in 2006. Cash flow per share fell 17.8%, to $1.94 from $2.36, on a lower contribution from Mount Polley. Imperial continues to benefit from high metal prices. The company now plans to use the cash flow from its existing mines to bring the Red Chris mine…