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

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To: Tim Hall who wrote (24197)11/4/1997 1:36:00 AM
From: Lew Green  Read Replies (2) of 35569
 
<<I wouln't think that these big time consultants would have to wait for the whims of a lab.>>

I thought the exact same thing... because I know some companies can get "walk-throughs" at places like Moutain States. So in this case I've probed hard. I've been told that there was much thought between BD/BATEMAN on which lab, and they wanted it to be someplace really premier, indisputable. Also, that thoughts about how they were now seeking au/pt/pd results instead of just au were a factor in lab selection.

Bear in mind I have no knowledge where in fact the samples are... but in any event I noodled around for what some of the slowest, stodgiest, least likely to do a "rush" for anyone might be, and got names like LaDoux (sp?) and Lakefield. I then asked 3 metalurgists/engineers, two of whom had previously worked at BD and Bateman, basically, "isn't this taking too damn long?" I was told unequivocally, there are certain places that will not rush. That if they are running backlogged, the people ahead of you are just as important (possibly other BD/Bateman clients -- or Mintek, Kilborn, Strathconia, etc...) and you are going to wait -- possibly _weeks_ till they even begin to process your material. I am told once such a lab's hands are on it, expect up to 2 weeks for au, 3 for pge's...

I'm as sick of waiting as anyone. And here are some further factors I've been thinking about: The lab(s) may be assaying concentrate, and some kind of separation or specialized assay may be required. One metalurgist told me there are "concentrate fire assays" well known at many labs... I've gotten mixed opinions on this. Another factor I consider is that this is I believe a joint effort, and as I understand it BD and Bateman submitted (IPMs material) genericly/anonymously, and I would think both have to get all results back, in order to "report"...

In responce to Mr. Mazzarella, it sounds like you miss Eli's PR!!!
Well, we can't have our cake and eat it too... IPM finally got the message delivered voceriferously here by many shareholders for months, that if dates of things were in hands totally out of their control, they shouldn't give dates, hard or expected. Period. Better to leave it open-ended than be late. I don't remember if Mr. Mazz was of this opinion back then, but it was widespread and prevailed. That "be careful what you wish for proverb" comes to mind. Ho-well...

CLARIFICATION:

In my previous Bateman report, I based info that I believed Bateman had an in-house lab in Denver, on an interview with an ex-Bateman (SA) metalurgist, and further research has revealed that they used to have one there but closed it to save costs, and because they grew very comfortable nearby facilities in Denver for the "in-house" type work. My current research now tells me that only the SA facility has an in-house lab. Don't think this affects much, but I try to be as acurate as I can.

Lew Green
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