International Precious Metals (IPMCF) Message Board

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

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To: C L who wrote (4778)	3/26/1997 10:46:00 AM
From: John Wetterau	of 35569

CL, assuming (1)that the BRX property shows consistent gold & platinum content within the broader areas that have been lightly sampled, and (2) that the extraction process costs, not including capital construction expense, are about $150/oz, and (3) that there are no major delays for political, legal, or environmental reasons, and (4) that the gold price averages $350 or more in the foreseeable future, what do you think is fair value for IPM shares? This is the most optimistic reasonable set of assumptions, I realize. But it would help to have your estimate as a benchmark from which to begin further estimates as the above assumptions do or do not pan out (as it were). I realize that your estimate is your estimate, no more than that. Long in Maine, thanks to you and Claude, John

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