International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: Claude Cormier who wrote (20930)	9/17/1997 1:41:00 PM
From: Karl Zetmeir	of 35569

Obviously ... we're talking hypotheticals here ... But what is NOT hypothetical ... is Barrick closing 5 of 11 mines due to the inability to be profitable at today's price of gold. I agree we're talking years for IPM to come online with significant production. However ... as you know ... the market anticipates future events. And, why would anyone want to spend a great deal of money developing either a new mine or a proven reserve that also won't come online for several years if they know IPM and others will run circles around them? I'm just playing a little devil's advocate here and suggesting those players in the DD's will be very pleased ... and the market in general could be somewhat dismal for new mine development and openings.

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