Struthers update: Delgratia, Nu-Apex, LS Capital, IPMCF
RSA Desert Heat Flash Volume 3 # 3.6 APR 16 1997
Since my previous updates the desert gold rush is heating up, led by
IPMC and also DELGF since it began trading. I have named my updates on the Desert Gold Rush as 'Desert Heat Flash', you will easily be able to recognize these in your email and its nice to add some flare!
Delgratia Mining DELGF on Nasdaq
DELGF has rebounded quickly and I hope many of you were able to get in
below $10 where I suggested to be aggressive buyers. I believe the shorts are probably out of the stock now and I would not be surprised if they are now long. We should also expect some consolidation after such a nice strong rebound. The next leg up in the stock could happen when drill results are released from the 2nd line (BB) of drill holes 7000 feet north of holes 1 to 5 in drill line (AA). This would add further proof of a huge deposit. From what I have heard, I expect these drill results will be positive.
Delgratia Mining Investor Relations (604) 685-7933 or Media Relations
Paula Toti (614) 771-6853
Nu-Apex NPX on Vancouver
We did not have a lot of time to buy NPX around $1.00 since Delgratia
moved up so fast. I will list the buy level as $1.20 and I would still look to buy in on any pullbacks to around the $1.30 level which could occur with some consolidation with Delgratia.
L.S. Capital, CHIP on Nasdaq bulletin board
Chip has been hit pretty hard in the market correction. We were able to sell at around $2.00 and if you were lucky you might have got $2.20 or $2.25. The stock has now come down to a good buy level again at $1.25. It has good technical support at the $1.00 level. You can now buy back positions at almost half the price and if you missed CHIP on the last run up, these levels now are a good entry level.
Things are going well at the pilot plant where final phase testing of
leaching and refining are moving up to bulk tonnage range. The next step we will be looking for after this will be an independent engineering firm to aid CHIP as they progress.
I also might mention about the 20% limited partnership in Amalgamated
Precious Metals. I think there was some confusion on what this means for CHIP. To net it out for you it really is a win win situation. With very little risk CHIP is allowed to particape for 20% which could net them a $50,000 to $100,000 cash flow/month over a 13 month period. This can be used to finance their projects rather then share dilution. It also opens doors for Chip for future particapation and contacts in Arizona with State/county officials and Investment funds/banks. These could be very beneficial contacts as Chip progresses forward. Call Keith at 800-263-1880 or 604-681-9688
International Precious Metals, IPMC on Nasdaq
Technically the stock looks like it has broken into a higher trading
range with a close at $10.5 yesterday and up to $11 today. Funds and
Institutions continue to buy the shares so any selling continues to move into strong hands.
The drilling is progressing well, starting at the Harquahala and
Eagletail mountains and is now moving north on 1km line spacing. From what I have found out more encouraging discoveries have been made on the hard rock and I believe we will soon see some consulting work begin on this. I expect the problems from the Arizona State mines dept. will be put to rest for good in the next couple of days as well. It sounds to me like things are going exceptionally well at IPM and we can expect higher share prices as news unfolds over the next few months. Call Eli Constantine at 310-444-0996
The information contained herein is based on sources and data which we
believe reliable, but is not guaranteed by us. This firm and/or their
employees, officers or members of their families and investment portfolios managed by such organizations may have a position in the securities and/or options relating thereto and may make purchases and/or sales of these securities or options relating thereto from time to time in the open market or otherwise. Furthermore, this information is furnished for information purposes and is not intended to be construed as an offer to buy or sell securities.
Ron Struthers Editor of Resource Stocks
Advisory
Resource Stocks Advisory, P.O. Box 335, Owen Sound, Ont., Canada, N4K 5P5
High Profit Mining Stock Selections and Investment Strategies
Email: resource@sentex.net Website sentex.net
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