Int'l Pursuit (T.IPJ) Message Board

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Gold/Mining/Energy : Int'l Pursuit (T.IPJ)

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To: k wong who wrote ()	8/23/1997 8:32:00 PM
From: Ron Everest	of 835

Received an update from IPJ on a couple of questions posed to them. I asked them about the status of their liquid assets (cash and securities) They advised approx $25 million. They advised that they will be reporting results on the Phillipines operations in 3 to 6 weeks. IPJ appears to be on the right track for now. Look at the progress of their managed company JVAG. Their IR advised that there is an expectation of having 7th generation CoW's signed in September and that was qualified with a maybe? IPJ is holding off decisions in Indonesia until the CoW's are received. This news supports the views that most companies are holding off development work until the Indo Govt shows some good will towards the risk takers - the jr gold companies. Guess there will continue to be a cloud over Indo operations until the Indo govt shows some integrity (after the Bre-X fiasco). IPJ is seriously undervalued IMO, we will see what the fall brings.

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