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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Bill Jackson who wrote (2261)2/12/1997 7:06:00 PM
From: Zeev Hed   of 35569
 
Bill: Actually gold di telluride (krennerite) decomposes at about 470 C, and should not be problematic in fire assays, it is not the same with platinum tellurides. The question is relly how much of the gold is locked in the telluride form and how much is native gold. If a large proportion is compounded, it is almost necessary to go the smelting route, or a high temperature (around 90 C) complex hydroxide (probably combination of NaOH and KOH) leaching procedure. I do not have the foggiest which route they are chosing. If they are going through the hot base route, there are some serious technical problems to solve, but nothing that the aluminum extraction industry has not solved before.

As for the spill to day, the cause might well have been a margin call, but the problem is that there was no one but the MM to take the stock in. This means that the depth of demand between 4.5 and 4 is not great. The MM of course rallied the price to unload his newly ill gotten inventory, but the fact that demand depth is not there could mean that the stock is broken technically for the duration, it could drift down on low volume until new demand materializes.

The fact that BD is being delayed (and that Mr. Murphy is going to cause additional delays) will not help either. I have already seen on the thread few comments on the "Scam" index, and if that continues and multiplies, there might be some stormy waters ahead.

I was following a stock were the Chairman got sold out on margin with no mercy, the stock took more than three months to stabilize. I am still waiting to see it recover from that beating.

Zeev
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