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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Karl Zetmeir who wrote (20916)9/17/1997 12:22:00 PM
From: Richard Mazzarella   of 35569
 
Karl, interesting rumor. Bema has other problems like hedging for so long that they won't make money for a couple of years even if gold moves up. IMO what is shaping up as first "coined" by Robert/CR is the desert dirt land rush. Many were pissed off when IPM added property to their holdings, but selling off parts may be the dilution free way of funding their own mining. Walk it through. Success with the desert sands and playas will turn conventional gold mining on its ear. Maxam maintains an extraction cost of ~$60/oz. What major can compete or live with that? The eventual impact with all the gold available at lower cost extraction will be to place the Barrick's in the museum next to Tyrannosaurus rex. I see IPM & Naxos proving the dirt, Maxam and IPM proving the extraction, and the other dirt's providing supporting data. That should have the majors move to a defensive position with either sabotage or property acquisition. Since there are so many dirt's the probable path will be acquisition. Think what that means for the shareprice. The way to play this is to purchase the companies that have the largest landholdings that have management that understands appreciating shareholder value. Management that holds the largest percentage of shares is a huge advantage IMO.
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