Beryllium company's share price goes nuclear

Stockhouse | 2010-02-04 02:00:24

<div id="subtitle">Unexplained rally pleases Bullboards posters</div><div><p>IBC Advanced Alloys (TSX: V.IB, Stock Forum) shares shot 29% higher to 24 cents on substantially higher than average volume. </p><p>The company is a manufacturer and distributor of rare metals, including beryllium. Beryllium is used mostly as a hardening agent in alloys, primarily beryllium copper. </p><p>IBC’s share price began its rally on Tuesday, although it has not yet released news that would account for the sudden interest in its shares. Posters linked to articles about blue-sky potential for beryllium. The company is working with some folks at Purdue University to develop a beryllium-uranium oxide fuel technology. </p><p>And despite the silence from the company, posters were happy to be along for the ride. </p><p>Simmerdown wrote that the increase was, “Long overdue... But for whatever reason, still a lot of selling pressure. Over half the float of shares are owned by Vangold and Firebird (Passin) so I don't think they've been selling. Insiders and management own a good chunk of shares. It doesn't leave a lot of free shares to be traded. I think this one has been accumulated by some for the past 18 months. Hopefully, better days are ahead...” </p><p>And, nosleep added: “I know there's huge potential so i'll hold 25% for now, but isn't anyone worried about the fact that an 8 million dollar financing hasn't closed, which is likely to be done at .15-.16 cents? I could be totally wrong about that, but i don't think i've missed an NR regarding a closing of the financing at all have I?” </p><p></p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=68415754&bid=informcom" /></div><div id="copyright"><div>


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