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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Raye Derickson who wrote (26204)11/14/1997 6:32:00 PM
From: John Wetterau  Read Replies (2) of 35569
 
All, a shock for sure! Using round numbers, the assayed silver is worth about 80% of the assayed gold. And, of course, we don't know about the platinum or about recoveries possibly/probably greater than the amounts measured by the fire assay. Bateman's ongoing involvement is a plus, if it is true. What I find annoying is not knowing what happened. Presumably Bateman did not sign off on the present recovery process. Why? What happened to Behre Dolbear? Martin Hay's assessment of the development time would appear to be right on. We could well have a huge winner here, but what credibility does management have left? Not once have they admitted to mistakes (that I know of), not a good sign. Monday the price will be attacked by the shorts; I think we'll be lucky to close over 2.50; we'll probably be below 4 in 15 minutes. What to do? Bail and take the loss? Forget the whole thing, hold on, check back once a month figuring to be back to 5 in six months? What are y'all thinking? Otter, aren't you just a little miffed at the e-mail you got from the company saying that all your questions would be answered very shortly (the implications of its tone)? We don't have scam here, but maybe we do have mediocre... All you guys who were at the AGM and who were impressed with management, Dr Shaw et. al., what are you thinking? Have we been mislead? What's happening? Something doesn't add up.
John
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