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Gold/Mining/Energy : Int'l Pursuit (T.IPJ)
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To: Michael Brody who wrote (198)3/29/1997 12:31:00 AM
From: Ron Everest   of 835
 
Michael: Hope you are celebrating Easter. We are. Intend to visit a nearby town tomorrow for an Easter play with some friends.

Now: IPJ

The valuation made on post 191 was C$6.17 This was ultra conservative in my opinion, it gave NO value to ownership of JVAG shares nor participation in JVAG finds. It also gave NO value to ALL of the indo properties. How conservative can we be. IMO IPJ is a great value at this time. Of interest to me and I would appreciate comment from others is the following piece from the last IPJ news release see SI post on IPJ #188:

Pursuit is presently engaged in joint venture discussions with several major mining companies which have expressed an interest in the company's Central Kalimantan exploration holdings.

I believe that Dattels and Burton are now aggressively downsizing the Indo exposure to the betterment of this company. JV's would continue to give IPJ sufficient exposure but without the drain on precious capital. IMO we can expect an announcement soon of likely multiple JV's involving Jurassic Park, Sibau and Mahakam CoWs. This will relieve IPJ to concentrate on Mongo properties and Hinoba-an and Manlupo properties.

They may not be getting the desired results (by logical deduction and our phone calls) on the Sebuluh Fault. There is also the opposite view, that the fault is very prospective but they want to move the focus to the 10km long NE trending structure in order to buy the time it takes to get the CoWs in order to drill etc. My view is that they are moving the focus, buying time and cutting costs.

Wouldn't be surprised to see the Phillipines CU property interests vended soon to raise significant cash for prospecting elsewhere (other than Indo).
If vended the $$$ could be used to increase the normal course issuer bid program......this should perk up IPJ price significantly.

Some discussion at this time could be interesting and beneficial, non?

Best regards,
Ron E
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