Anybody know why IPN has run so hard in the last 2 days? Its up well over 25% and I can see no announcements and as far as I can tell there has been no coverage from any of the usual commentators to cause it.
Sure have, I bought in 2 weeks ago and am already up 30%!
The buy volume is very good and after reading a few articles about this company I believe its completely undervalued. Its competitors are over 3 and 12 dollars.
Price $0.21
Shares on Issue 978,943,003 (owned 85% by SHL.asx)
Market Cap ($) 210,365,246
EPS $0.55!!!!!!!!!
PE 38.18
SHL has couple of presentations and it mentioned that starting from mid 2006 IPN should grow 6 times its value until mid 2007. Well if what they say is accurate then IPN should be worth more than $1.20 by mid 2007 starting from November this year.