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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Theo who wrote (23996)11/1/1997 3:27:00 PM
From: E. Charters  Read Replies (1) of 35569
 
1. If its not economic you don't option it at all let alone promise
to bring it into production at 10,000 tons a day. Where did they get that brilliant idea all of a sudden?

2. Who upped the ante to a 27 million dollar buyout so quickly? If they were a standard company they would have got all that out of the way in the way in. All discovery excigenices would have been dealt with in the option. After all they don't know what they are likely to find do they? So they have to protect themselves against all future demands for payment based upon discovery. Bit no not these geniuses. they renegotiate the deal to cost them MORE. So much more on behalf of their shareholders that if the payout were equated to the standard 3%, the gold found would have to amount to 1 billion dollars at the NPV or 4 million ounces. Where was the feasibility that allowed them to pay that much for the property from shareholder's money?

3. Heap leaching was already in existence quite successfully for 15 or more years. Even tried in Timmins Ontario by Royal Oak.

4. They haven't paid the deal yet and they aren't worried? Why did they change it indeed. I would boot them out business wise If I were a shareholder. You don't go from a good deal to a bad deal without proof on my money.

echarter@vianet.on.ca
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