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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: kimberley who wrote (1504)1/19/1997 9:42:00 AM
From: Daniel M. Whipple   of 35569
 
Kim:
True Value? It would take holding the stock for 100 yrs to determine true value. Visualize what will happen in the mining community if IPM is for real. The uncertainty the majors (ones that are not involved in any desert dirt co.)will feel about their on going operations. Price of Gold, how many IPM properties are there in the world, etc. These fears are going to be shared by the desert dirt companies also. It will take 3-5 years before IPM will have any major output. Look at what has happened with Bre-x Minerals (granted they never intended to mine the property themselves). If I were a shareholder, I would probably be happy that Barrick was buying me out. I would feel a lot better about holding Barrick stock than Bre-x (even at a discount to what I felt the value was). A lot of investors have already decided what companies they will invest their profits in. IPM would not have been the first to make their investors rich and will not be the last.
Uncertainty will drive the company to sell, if the price is reasonable.

On the subject of the "p" word, I personally feel that IPM is concentrating on gold recovery so as to meet the deadline in april of substantiating 300k oz of gold and recovery process capable of 1k tons/day. I tend to agree with CL that for the time being let the platinum lay low. Get the credibility with the gold , Then later slip in the Platinum. The platinum (even verifiable ) will always give the institutions something to worry about,especially if it is part of the price of the shares.

Regards,
Daniel
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