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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Zeev Hed who wrote (6)9/2/1996 10:18:00 PM
From: Eric Tai   of 35569
 
Zeev, right on. You remember I asked the question about the future
Pt prize? GPGI and IPMC already had huge huge potential.
What about Naxos. They have 180 m tons of material in their
first 40 ft. of Franklin Lake. They then drilled only 1 deep holes
to 500 ft. - and if you believe what the news release said, it
is fully mineralized to the 500 feet. What about the grade?
Read about it in the canada newswire - I dare not write it here.
So you do your calculation and find out the amount of PGMs there - it
is incredible. But then we also have to remember that they
still have problems with ASE about their gold assaying procedure and
are still halted/suspended.

That why Jay Taylor and Keith Mckinsey of Kilo gold both
mentioned about South Africa mining companies very concern
about all this exploration and testing in the California/Arizona
area for Pt.

If all three companies are able to prove out what they claim they have,each of them will have multi-million (>10m) oz to centi-million (>100m) oz of Pt and each of them can easily support a 1 m - 5m oz
of Pt production per year. I believe the current Pt production is
about 300 ton/year that is about 10m oz a year. This type of
production can easily drive down the Pt price to such a low
price that it will squeeze out all high cost producers. I
believe that the South Africans will be the high cost producers and
they will be the ones being squeezed out.
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