OK.. I had a one-hour discussion with Brian Robertson regarding IPMG, the company's goals, and the questions below. Brian was straight-forward, candid and professional in responding to each item. Some cannot be answered fully (as expected since I am just a single investor) until announced publicly, but all were discussed to the extent possible. I have condensed the responses below.
1) IPMG investors have determined that W. William Boberg is now the President and Acting CEO of UR Energy, Inc. a Uranium Miner. PR's of that company indicate he is devoting 100% of his time toward building that company. Is W. William Boberg still an Officer of IPMG? Is he still a shareholder?
A: W. William Boberg is STILL the Vice President of Exploration for IPMG. His duties in overview and technical review of reports and assessments have not changed. His recent duties with UR-Energy have limited his IPMG involvement somewhat, but he still is the critical technical eye on IPMG's future exploration. Mr Boberg retains ALL the shares he has of IPMG and those shares have sales restrictions applied.
2) GUL Mining in Cambodia was acquired last year (July) and at the time it was reported that the leases "...consist primarily of gold, silver and copper reserves, although they also include valuable lead and zinc reserves as well." Cambodia has a tropical monsoon climate. December and January are the coolest months, while March and April are the hottest. The country’s rainy season extends from May to October. Mining surveys cannot be conducted efficiently during the rainy season. Typically Novemeber marks the drying out and starts good weather. Does IPMG own or have a contractual agreement with GUL mining? If not WHY???? What surveys have been conducted of the GUL Mining leases in 2005-2006? If none, why haven't efforts been expended to quantify inground reserves for company investors.
A. Brian cannot discuss the specifics of the GUL properties, but indicated the efforts continue and we have moved forward. The Cambodia region is in a "Staking War" as far as precious minerals properties, it is extremely competition sensitive. Further results will be announced when fully completed. Any preliminary annoucements could have a most serious impact on efforts to acquire further properties in Cambodia. He counseled patience.
3) Investors indicate that Jay Howson no longer is performing Investor Relations work for IPMG. Is the strategic alliance with Premier Funding and Financial Marketing Services of Phoenix, Arizona announced in June 2005 also a casualty? If so, why hasn't the web site been updated to reflect current status? If not, why has Investor Relations been given a backseat?
A. Brian indicated that investor relations and marketing are value added judgements that must be weighed with cost vs benefit in mind. He indicated that Premier Funding remains IPMG's principal financial marketing representative. Jay Howson has moved on, and no longer represents IPMG. His Investor Relations duties have been assumed by Brian. (Note: it appears the web site has been updated with current address and contact information.)
4) Investors have repeatedly asked that the company become more transparent by purchasing the Level II real-time quotes offerred by Pinksheets.com for start-up corporations. What has prevented implementation of those requests?
A. Brian indicated that pinksheets Level-II real-time quotes will be implemented for investors and is on the company "To Do" list. He will update investors when implemented. He stated that he was aware that the company was added to the REGSHO list again, and we had quite a discussion about Naked Short Selling. He agrees it amounts to stock counterfeiting and is watching the situation closely.
5) Investors are clamoring for a company update, similar to the one sent out in June 2005. Since we pay your salary as shareholders in a non-profitable company thus far, why will you not entertain such a PR until further acquisitions are complete or ongoing activities are complete?
A. He indicated that the agenda for the annual General Shareholders Meeting is in the process of being built and will be announced soon. He reiterated his policy, in the highly competitive precious minerals marketplace, to "...only say things when there is a lot to say." He indicated he would think over the "Company Update" and act in the best interests of the long term investors. He discussed the real possibility of updating the web site shortly with more information and project pursuit rationale from the CEO's perspective.
6) The company indicated in a PR that you were attempting to staff up to manage the GUL Mining and other activities underway. What is the status of that staffing effort.
A. Additional geologists have been identified and placed on stand-by. More information on new staffing should be part of the General Shareholders meeting.
7) What is the status of the DD for the two "World Class" projects mentioned in the last PR?
A. The North African pursuit has been placed on hold due to the untenable situation with the war in Ethiopia/Somalia. It will be re-examined when events clear the threat. The second (North American?) pursuit is moving forward. There will be more information regarding that pursuit in the coming weeks and months.
We talked about the share structure, trying to get a better feel for the future. He indicated that the structure remains the same (A/S 400M, O/S ~325M, and Float ~40M). That was the first confirmation of the float I had heard. Brian seem very optimistic for the future. He does realize that IMPG is one of two active Cambodian gold plays, but reiterated that he will not attempt to pump IPMG with fluff PR's. He indicated that IMPG will stand as a value added precious minerals exploration company based on results that are being worked on each and every day.
I came away from the discussion impressed with his candid responses, clear thinking, and his philosopy on NSS is to be admired. He is neither arrogant nor overbearing in his desire to lead IPMG forward. If individuals have problems dealing with BR it is probably because he is a strong leader and not afraid to direct activities and assess fault for failed actions. JMHO.
I'm long and strong IPMG.
rrm
Disclosure: I have not been issued free shares of stock, been compensated monetarily, or been paid to promote or encourage participation in IPMG by any company, person, or entity. All shares that I own of IPMG I have purchased from my own personal funds. I have made no statements for which I had any insider knowledge or any knowledge of false or misleading content. All statements I have made were based upon my personal opinion of information I gleaned from public information or derived from statements made by the company or its representatives. This is my personal assessment of IPMG and should not form the sole basis of any buy or sell decision making by any reader. This posting service holds my personal IP address. This constitutes a complete and legally binding disclosure.
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