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

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To: Zeev Hed who wrote (26706)11/16/1997 3:44:00 PM
From: Ron Struthers  Read Replies (2) of 35569
 
<<I see no FACTUAL base for assuming that we will get an average of .1 to .15 oz/ton
as you propose.>>

Zeev you are correct there is no factual information available to support this yet. We have to wait for assays. The 0.10 to 0.15 is just my speculation

IPM has tested old samples with the new fire assay. I have been told there is improved results.

<<The main issue of extraction cost is wide open and not even close to resolution. So
far, unfortunately, I see a repeat of the fateful 450 tons bulk sample of last year. >>

Again Bateman will have to confirm an economical extraction process. They seem optimistic. The difference between now and last year is we had ZERO last year and there was not near the Institutional involvement of the stock. The price action will be in their hands and the shorts

Ron
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