International Precious Metals (IPMCF) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Furry Otter who wrote (28539)	11/27/1997 9:13:00 AM
From: Bob Aldridge	Read Replies (1) of 35569

I have puzzled over this myself many times and this is the situation as I see it. Providing no errors or funny business has occurred recovered gold is recovered gold - This cannot be disputed and the ore must contain this metal. The problem as I see it, however, is that we have metal as fine particles and micro clusters i.e. very small groups of atoms. IPM knew that they had the fine gold as it leached (0.046oz/ton - March 1996) but instead of perfecting a fire assay and recovery process on this they went for glory. By November 1996 a recovery break through occurred and by June 1997 they had a process that recovered about 1 oz/ton of metal and a fire assay that worked on the gold at 0.30 oz/ton !! Great we all thought, but it now appears that the economics of the recovery process and the consistency of the fire assay was just not good enough to satisfy Bateman. IPM must then have been persuaded by Bateman to drop all research and development work on the micro clusters and concentrate on what could be fire assayed and recovered with their assistance. Bateman I suggest have saved IPM. After only a few months IPM have stopped chasing the micro cluster glory and the largest deposit in history and are back on track with a verified fire assay for gold and, as I understand it, good progress on a platinum assay and recovery process. It's no wonder that that Behre Dolbear felt uncomfortable working with micro clusters but they just didn't have the strength or incentive to shake the IPM dream. In conclusion I believe BRX does contain in excess of 1 oz/ton but at this time the technology and processing costs for a micro cluster deposit are just beyond them. IPM will now concentrate on the fine gold which is really attainable and I believe a first grid reserve in excess of 0.1oz/ton for gold/platinum/palladium plus significant silver is very, very likely. An economic recovery process still needs work but with Bateman in control I estimate the likely chance of success to be at least 50%. Given adequate financing, this makes the first grid worth $6/share NOW, however with the current poor market sentiment and a declining gold price this will not be attained for many months but we have this and a lot, lot more to look forward to. Hairy Hamster.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next