Positive News On Red Chris

Article Excerpt

IMPERIAL METALS $8.15 (Toronto symbol III; SI Rating: Speculative) (604-669-8959; ww.imperialmetals.com; Shares outstanding: 32.6 million; Market cap: $266.1 million) can now proceed with further development at its Red Chris copper and gold mine in northeast B.C. The Canadian Federal Court of Appeal has overturned a lower court decision that had blocked environmental approvals for the mine. Environmental group MiningWatch Canada had challenged the 2006 environmental approvals. Subsequently, in September, 2007, the lower court ruled that the federal environmental review was incorrect. Imperial acquired the Red Chris property in February, 2007, and aims to build a $228 million open-pit mine on the property. A feasibility study estimates that Red Chris could produce 1.8 billion pounds of copper and 1.2 million ounces of gold over a 25-year mine life. There is also room to add to the deposit through further exploration drilling. Imperial is a buy for aggressive investors. investors…