So again, I have to ask what's next now that there is some hint of what lays in the ground. Why did we hire Clarus and what's the "next level"? Will someone take a run at us now? Will we be looked at by Majors? How is the Nickel Ore supply in the neighborhood?
How about that intrinsic value?
Inspiration Retains Clarus Securities as Financial Advisor
FOR IMMEDIATE RELEASE
October, 15 2009 |
TSX - ISM Frankfurt- OI8 |
Toronto, Ontario - Inspiration Mining Corporation (the "Company") announces that it has retained Clarus Securities Inc. ("Clarus") to assist in a review of the Company’s strategic alternatives to enhance value for the shareholders. Together with Clarus, the Company is reviewing all options that will enable it to unlock value.
The Company is of the opinion that the current share price does not accurately reflect the true value of the Company’s assets and accordingly is reviewing all of its options should an opportunistic party decide to take advantage of the low share price and launch a take over bid. One option being implemented is the adoption of a shareholders' rights plan ("SRP") which will protect the interests of the Company’s shareholders. Any adoption of a SRP will require shareholder and TSX approval.
Mr. Randy Miller, the President of the Company, states "We are excited about having Clarus as our partner as we look for opportunities to unlock the true value of the Company's assets. The current market cap is not indicative of the true intrinsic value of the Company and with the assistance of Clarus; we believe that we can unlock the real value of the Company's assets."
For further information, please contact Randy Miller, President of the Company, at tel: 905.853.7400, www.inspirationmining.com
For Investor Relations call:
Gale Capital Corporation
Ph. 604.221.7604
Fax 604.221.7606
galecapital@shaw.ca
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
From todays release:
"Mr. Randy Miller, the President and Chief Executive Officer of the Corporation, stated "We are pleased with the results contained in the Micon report and the findings in the SGS report. These reports are an important step in the continued development and advancement of the Langmuir property. The potential for two open pit resources is evident by the conclusions in the Micon report and we are excited about the additional exploration targets that can significantly increase the size of the mineralization on the property. The Corporation is committed to the further exploration of the property in order to fully explore and develop the full potential of the property to become a viable source for nickel in the future."