International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: BillyZoom who wrote (32338)	5/22/1998 2:22:00 AM
From: Larry Brubaker	of 35569

Robert: OK, I'll acknowledge the $1 million owed to Omega does not affect day to day working capital. I'd also guess there is no hurry to pay off the outstanding debenture. But what about the $900,000 of accounts payable which is not part of the Omega debt? That $900,000 alone would eat up all of their cash, and plus all of the MGAU shares. That leaves them with the big zippo for spending money. Another thing, what do you think will happen to the value of MGAU shares when IPM puts a million of them on the market? Let's put it this way, I wouldn't be caught dead holding that stock right now. Wish I could figure out a way to short it. And how in the heck could there be a dispute between IPM and MGAU about who owes whom money? The same people run both companies, for cryin out loud. I also notice they didn't announce they issued floorless convertible debentures during the last quarter. Yeah, their backs are to the wall and they arranged a small amount of financing during the last quarter. However, the nature of the financing is the sort which destroys the stock price, as we have seen. Now who is this high caliber person you are referring to?

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