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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Richard Mazzarella who wrote (12819)6/20/1997 11:47:00 PM
From: Tim Hall   of 35569
 
Richard, I didn't invent a process to mine perlite. It was already here. I have however helped to optimized the process by which we produce the ore after it is mined. It is nothing complicated, just crushing, drying and screening. We own 21 acre-feet of water per year. We use all of this water just for dust control. It took us five years and a good water lawyer to get this water. It was purchased about 8 years ago. Golf courses in northern New Mexico (Santa Fe and Taos) are now paying between 10 and 15 thousand dollars for an acre-foot of water. Any leaching process in the desert is going to need hundreds or thousands of acre-feet per year even with recycling of the water.

The municipality of Albuquerque has actually purchased water on the pacific drainage and received special permission to transfer this water via tunnels and pipes to the atlantic side for use in Albuquerque. New Mexico has much more water than AZ. Why can't IPM or Maxam just tell us how many shares they have, where they purchased it and how much they paid for it. Shouldn't this info. be in their annual report anyway?

I am sorry if every one thinks I am negative. I want to believe in these operations, but I also want to see something a little more substantial. I don't have anything to gain if these fail, if they succeed, I might have a lot to gain.

IMHO

Tim Hall
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