International Properties Group (IPX-TSE) Message Board

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Gold/Mining/Energy : International Properties Group (IPX-TSE)

IPX 39.90

-4.2%

3:59 PM EST

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To: Marcman who wrote (7)	10/9/1997 1:11:00 PM
From: Carl	of 104

Marcman and others, I just got off the phone with Judd Martin, the IR guy for IPX. I discussed the apparent selling pressure and he explained it this way. The company came up through the junior capital pool on the ASE, and did a quick run to 4.00 plus. Lots of people flipped it on hype, and then it drifted back to where it is today. When the recent private placement was done at 1.85, a lot of brokers expected a quick profit. When that didn't materialize instantly, they bailed. The company knows which brokerages are selling, and they estimate another 300,000 or so shares are left to sell. All of the shares out there (29 million plus) were purchased at 1.80 and above. My fear that there might be some cheap penny shares overhanging from a shell or something is complete false. Judd assured me that the fundamentals are strong, they will meet their targets, and the selling will eventually subside. He was not at all concerned about the short term share price, because the company has a long term horizon. I feel much better after talking to Judd, and have more confidence than ever in IPX's prospects. See ya later, Carl P.S. You can call him at 416-955-1466 if you like.

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