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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Matt C. Austin who wrote (25418)11/11/1997 1:05:00 PM
From: Claude Cormier  Read Replies (1) of 35569
 
<< When IPM's mine comes within a few months of coming on line, we'll see a tumble in prices again and the rest of the mines in Canada proper will close down. The only Canadian miners will be the ones with low cost operations OUTSIDE Canada. >>

That is 5 years down the road...who knows what demand will be then.
And keep in mind Matt that there are canadian mines in Canada with costs in the $100-$150 range. These wont close. Beside, I think it is to early to affirm that IPM will produce gold at the low prices.

<< I'll be real surprised if they don't re-domicile in the U S and drop the Canadian OTC listing by March 1, 1998. Their treatment by TSE and the Canadian press has been little short of atrocious. Why the hell would they want to stay a Canadian company?? >>

Oh! I am sure that IPM management and many shareholders would prefer the BRX property to be owned by a US corporation. But the fact is that BRX's rights are owned by a CDN company managed by Australians. It is a very complex matter to change this. You must create a US corp. Than have all shareholders (including minority CDN shareholders) agreed on a share exchange of some sort. Why do you think the people in charge have not done it so far...3 years after they had there fight with the TSE and NM ?
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