I believe that IPT has the 500 tpd mill running at the Guadalupe Mine at Zacualpan, the option to purchase the Veta Grande 200 tpd mill in Zacatecas, and the recently purchased 200 tpd portable mill that is currently being refurbished. So based on my info that means about 900 tpd capacity if all goes well with the above. I have been to visit the Guadalupe Mill and there is some potential to expand that project if they buy and install a larger crushing/grinding circuit and put in some more floatation cells. I think they would also need a filter press, as they are currently relying on a solar pad to dry the concentrate if my memory is correct, and that is not going to do the job when you start flowing higher throughput at the mill.

One thing I like about IPT is that the company just grows on the basis of the cash flow generated by operations. So if it costs a couple million bucks to expand the mill, then they will probably wait until they are booking recurring earnings to pay for that, along with the previously announced exploration drilling, and ongoing development work at the mines. Some may be disappointed that the company is not more aggressive, but the entire sector is out of favour anyway right now, so why dilute the hell out of the share structure to pay for improvements now?

I think this metals boom will go on for many years to come. If we someday look back and see 3 mills running at capacity, with 4 mines in production (or more) and silver running $25 an ounce, then people will begin to appreciate that growing slowly within the budget was the right call.

I think IPT practically stole the portable mill if they only paid about $1 million to get it. I dont think we have heard the last of the acquisitions either, but I would bet when one happens it will be at a rock bottom price.

cheers!

mike

Voluntary disclosure: IPT is a paid advertiser on my website, and it represents one of my top holdings in my personal PF.