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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Claude Cormier who wrote (23665)	10/27/2006 11:21:00 AM
From: LoneClone	Read Replies (2) of 78412

Claude, with your usual astuteness you have put your finger on IPT's weak spot -- a lack of defined reserves. Here's a quote from the Geological and Exploration Report from September 2005. "The Royal Mines of Zacualpan Property does not have a known body of commercial ore as defined in National Instrument 43-101 but mining and processing operations have been carried on almost continuously since the early 1970’s. This recommended program describes an exploratory search for ore and better definition of the known deposits. The recommended program outlines a systematic approach to continued exploration and evaluation of the precious and base metal potential of the property as well as expanding known areas of mineralization." My read is that at this point, IPT already has plenty of ore to keep them going for years, but to unlock the full value of the shares they need to prove up those reserves to 43-101 standards. Fortunately they have the cash flow to pay for it. They have a good thing going with their new property Veta Grande. As they are running the mill which processes all of the ore from the artisanal miners in the area, this gives them a direct conduit to the information needed to decide where to expand their land holdings. LC

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