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

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To: Ron Struthers who wrote (27133)11/17/1997 3:01:00 PM
From: E. Charters  Read Replies (1) of 35569
 
Sym Last chnge bid size ask size volume open

IPMCF 3.2188 -2.1562 3.2188 5 3.25 30 952900 2.9375

Well it has tanked a tad. Moderate volume. I don't think every
cheerleader went out and bought 20,000 shares. Until there is
something single mom wants to put into newborn's college account
this is a pretty rough game. I think I would tell poopsiekins
that we will buy him some mid scale progamming service firms and
an offshore oil field stock or two for now.

Considering it weren't all bad news although bit confusing and
interpretative it has held up rather well. If I didn't think
This micron stuff is cold fusion I would still be rather worried
that there was any recovery process that made sense. Without
rather detailed procedural talk about its feasibility and quoted
statements from industry experts it's asking for a lot of faith.
I don't see PhD people fighting for the podium to argue the micro
mineral breakthrough here. If a process required melting the entire
ore to get at the stuff that is alleged to be there, I believe it
needs 14 to 20 ounces per ton to be economic. Micro wave energy is
not cheap either requiring about .35 killowatt hours per pound of
rock to do any damage here.. That is 102 dollars a ton. And we
haven't melted it yet either. And that will require in excess of
2270 Kilocalories per pound, or 2.64 kwhrs /lb which costs $792
dollars per ton. And such a processor would need a lot of surface
area to treat any amount of ore.

Long way to go for my money. And I ain't convinced they ain't
cheatin' yet.

echarter@vianet.on.ca
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