There's more to Chile than Salvador Allende and Augusto Pinochet. The country has a few mining concessions for prospectors to explore. International PBX Ventures (PBX.V / IPBXF) is one such explorer. Let's see what they have to offer the market.
The CEO is not a geologist and has a lot of experience unrelated to operating a junior mining company. He's also CEO of another company called Relief Gold, which seems to have a website offering no real info. I usually stay away from companies whose executives divide their time between running several different companies. The rest of the team is pretty lean on early-stage mining experience.
They have one active project in Chile, primarily for copper. The MII grades for Cu are below world averages for new discoveries. It's still a low concentration even after adjusting for the presence of secondary minerals. I'm not impressed. They also have a 100% owned subsidiary called Chilean Metals, with some properties in the early stages of sampling and surveying. That's too early to interest me.
The price history of this stock on Yahoo Finance shows that it's been a penny stock since 1997. It trades at a whopping six cents right now. Shareholders who have invested in this company at any time have seen their stake pretty much destroyed by now. That's why I'm not an investor.
Full disclosure: No position in International PBX Ventures at this time.
