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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Zeev Hed who wrote (16)9/6/1996 9:32:00 PM
From: Eric Tai   of 35569
 
Zeev, I do not know the details of the IPMC projects that they had
written off, so I cannot comment on them.

But after following quite a few junior mining co., I find that
no matter how good a property may look initially, in most of the
cases it will not turn up something economical. So what the
juniors do is that they usually have from 5 to over 20 properties
on their hands, then they do some survey, geological studies, sampling
etc. on those properties. If they find that the properties are
good, they will do more work on it and may eventually find something
economical. But for the properties that they
find lacking, they will write them off and drop them.

So it is not unusual for some juniors to write off some of
their properties from time to time.

On the one hand, you may say that a certain company had worked
on so many properties but had nothing to show for. But on the other
hand you can say that it keeps trying and may someday find
something valuable.
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