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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: John Wetterau who wrote (12802)6/21/1997 11:38:00 AM
From: AurumRabosa   of 35569
 
John, I met a an aussie who knows Alan Doyle from way back who told me he put up a lot of the money to start IPM and still holds his shares. He said he told Doyle that he insisted he implement a shareholder rights protection plan because he believes a major will try to snap up IPM whole and sooner than most think. I suggested to him that one of the most bullish short term things I could think was to see a major stake some land anywhere near Black Rock. He said they wouldn't bother working that hard and long they'd just make an offer to buy 100% of the shares and get them much cheaper than their true value. Doyle said the board was considering a shareholders rights plan.

This gentleman is a mining consulant who is presently working on projects in Africa and Chile. We discussed the projects of some juniors working on 3 different continents and I was very impressed with his knowledge of the mineral exploration world. I sure wish I had access to info like his on a regualr basis.

As an aside, I asked him about the Forbes article and the unexplained reference to Alan "Oily" Doyle. He said he'd never read the article and never would. He laughed and said Alan's friends in Oz nicknamed him Oily Doylie because he was so good at getting the gears oiled for financing mine deals. He said it was an affectionate aussie kind of name and not derogatory as I seem to think the yellow journalists at Forbes implied it to be.

He also told me that Lycopodium was a well respected and very talented mining engineering firm. He was very confident that we're on schedule for building a major mine.

Doyle said that the financing will have 4 parts composed of gold loans, debentures, bank loans, and a placement.
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