International Precious Metals (IPMCF) Message Board

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

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To: Brander who wrote (26357)	11/15/1997 12:54:00 AM
From: go4it	Read Replies (3) of 35569

Brad, I am not a happy camper as I sit here reading and re-reading the press release. I think alot of retail investors will panick Monday morning and I think that it is pretty damn low of the company to put this kind of a release out and I can't figure out why they did. There is one paragraph that keeps jumping out at me and that is Bateman Engineering Inc.,...... However, the process utilized will most likely not be used for commercial development of the project....... These two samples of 20 lbs. each were collected and tested under chain of custody surveillance of the independent consultants. Bateman has indicated that this testing should not be used for the purpose of calculating a resource. I think this is refering to the leach process. I think they may have achieved the numbers that the company has been putting out and I think Bateman (just like Martin Hay) has enough experience to recognize that they were using was not going to be economical to extract the metals. So I am going to hypothesize that Bateman told IPM that they didn't want these numbers in the report as it would have created a false impression and essentially super inflated the stock price (not that I would have minded). I'm thinking that Bateman has no interest in playing stock pricing games. If this was the case then any feasibility study that was performed would have come back as the mine is not feasible. If they are going to do a feasibility then they are going to have to know what the extraction method that is going to be economical is or at least have alternatives. They have proven that the gold is there and they will calculate a resource using the approved fire assay and at this point it is a pure technology play. Short term - I apologize for being as bullish as I was but I did believe. Chuck

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