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Yes, the IM mark would be where the O in GOLD is in the above example. Here’s a reasonable example of GOLDHAVOC on CAN for reference purposes only.

Looks like it might be a Spanish Netherlands '2 Mite' coin issued by Phillip II, c16th https://en.numista.com/120395 Still not sure of the exact variety yet

The central cross limbs would be level with the IM mark if it was an IM mark. I think it is a T as Rob stated. Your orientation is incorrect for known tealby pennies. Stu.

I appreciate the legend style I have drawn is incorrect also the spacing, heres roughly how I would assume the name fits give or take.

This is a complete guess I have worked backwards from what I think is O C and the first letter that looks like a C is probably actually a G?: (Allen): BMC 169–171 (Canterbury, Moneyer Goldhavoc, Class E, reading + GOLDhAVOC : ON : CAN or CANT) North: North 960 (Class E) Spink: Spink 1341 At the bottom of the image I see O C and after CAN + then I see a G of GOLDhAVOC. Because the name is long was the T removed and what appears as the T is actually the cross. *I'm not sure what the legend styles look like for each letter, so after N is that a cross or a T? As I say I have simply worked backed from OC which could only be Goldhavoc. Just before the O can I see the faint trace of the apex of the V?