Hi shynes,
IMT is an exploration-stage company that acquires gold, nickel, uranium and cobalt properties. It has properties in Quebec, ONtario and Saskatchewan.
In 2020, the stock price has shot up considerably - why? It is likely being bid-up due to strong gold prices, strong demand for EV-related stocks and Elon Musk's comments about nickel. In fact, the share price has doubled since those comments by Musk.
If you look at the company's history- it has a very ugly chart. It has traded between 2-5c for the better part of five years and outside of momentum trading, there is no reason for the current break out. They continue to acquire land (which is fine) but at this point, the company is a speculative buy on a potential takeout.
It is also important to note that exploration companies that don't generate revenue need cash to continue operating. This is why IMT has announced several share offerings a year, which is dillutive to shareholders. This would not be so bad if it was working towards constructing a mine, but right now, it is focused purely on exploration. It is a highly speculative stock.
Mat