International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: Larry Brubaker who wrote (23978)	11/1/1997 4:48:00 PM
From: E. Charters	Read Replies (2) of 35569

Interesting and balanced response, of course where you say my opinion is drivel you are showing a defensiveness. "Only issue is the contents of the BD reports." Well that is an interesting concept. So you are willing to accept that there is doubt, that they will not necessarily be positive? Don't you think that is a lot of risk for 4 something a share? And even if they are positive you say we then have to find a recovery process? Kinda dicey I would say. Can I base my doubts on other indicators other than Coggins and Lumbert? Coggins, a professional geologist, assayed several samples and found no precious metals. He was aware of the failure to get Platinum from Naoxos' ground who had made similar claims. The company alleges that he did not take the samples deep enough, having missed by one foot. They (IPM) had opportunity at the time to direct that samples be taken in a proper manner. Lumbert alleges that the CFO, Allred made death threats upon him. He also accuses Doyle in another suit ongoing of being a fraud in connection to another company that Lumbert has been following for several years. I cannot attest to whether these accusations have any base at all. But the compendium of supposed infractions by Alanco is at the least disturbing. The issue of 13.9 million shares to take care of some business (Alanco)is really disturbing if it is true. I did business with the International Platinum people in 1987 and although I cannot point to any outlandish improprieties I can state that I was disturbed by the casualness of their approach to stock promotion. If my memory serves me correctly they had made an anouncement on the VSE about making a deal on our platinum property and they had not signed the deal not did they eventually make any deal or take any samples on the property. The due diligence on the property would have involved a road trip of 150 miles, a canoe trip of 6 miles and walking for 1 mile. Or a 40 mile helicopter ride. The property was identical in many ways to the Lac De Isle platinum mine and was 60 miles away in the same age and type of rock.. with known ni-cu values. The geologist was delighted by the mineralized rock sample of banded gabbro that I had brought him. Now I don't care about the not doing the deal, but why say you did? And why fly to the property, fly over it if you are not interested. And why wine us and dine us for two days ? Answer: Stock promotion. But they couldn't be bothered. Instead they flew 400 miles north of Thunder Bay to stake a property near Big Trout Lake. If there is Pt mine there it will be many decades before anybody bothers to do a feasibility. echarter@vianet.on.ca

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