International Precious Metals (IPMCF) Message Board

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

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To: Bob Markley who wrote (24298)	11/4/1997 12:27:00 PM
From: Claude Cormier	Read Replies (1) of 35569

<< Just can't agree the the current price reflects the significance of an estimated consistency at .15 on the first grid to a depth of 100 feet. With 50 million tons of mat'l to a depth of of 100 feet were talking a PROVEN 7.5 million oz on the first grid only. >> Well, Misty Mountain Gold has 3M ounces proven and mineable, market cap is only C$25M. Metallica has 2.7M ounces proven and mineable with feasibility positive at US$170/ounce, market cap is C$50M. Look at Bema Gold...market cap at C$400M and ...how many ounces 20M or so... There are many more examples that prove my point... A market cap of $C140 (US$100M-$US125) would be not bad for geological resource of 7m ounces...of course as the resource increase so would the price...progressively. <<With a proven reserve of 7.5 Million oz in the ground at $50 per oz we can calculate an estimated share value of $17. >> In a good market, I would agree.... but keep in mind that IPM will not have proven reserve...only geological reserves...very big difference. Once they start proving it...of course your target would be reached...and more if they go through bedrock. Lets take this one step at a time. CC

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