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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Randy Giese who wrote (6957)4/27/1997 8:23:00 PM
From: Claude Cormier   of 35569
 
<< They imply that IPM has talked it up before and failed so why should we take them seriously now? >>

I haven't read the recent articles in the NM so I don't know what they are implying.

All I know is that IPM has a project that seems to have tremendous potential. However, we don't have yet enough technical data in hands to evaluate the real chance of success. (we only have enough data to evaluate the immense potential)

The technical basis for the current interest are:

1) The Dec 1995 BD report.

2) The releases by IPM indicating a new recovery process that improve the grades announced in the Dec 95 BD report by a factor of 5X.

I read the Dec95 BD report. It was an excellent report confirming the quality, security and safety of all procedures done by IPM and BD, from the drilling up to the assays. And I was really pleased with that. However, it failed to convinced me that there is a minable deposit at BRX.

The recent press releases were also very promising, but still we don't know yet if they can recover metals on a commercial basis.

So I stick with my approach to own a small piece in IPM because of the large potential. But I will wait for further technical data before comitting major funds.

If IPM recovery process works on a commercial basis, and they have these billions of tons, then I will be more than happy to load the bandwagon at $15-$20 or even $30.

CC

P.S Re Bre-X.. I am neutral,c ause I don't really know. I guess everything is possible.
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