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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Joe Hartenbower who wrote (29981)1/19/1998 4:21:00 PM
From: Gerald Walls  Read Replies (2) of 35569
 
Gerald, your bogged down with the little picture. Look at the big one.

OK. How did these loans help the "big picture"?

>> A failure of such negotiations could have a negative effect on the liquidity and capital resources of the Company. <<

$250K is going to have a big effect on IPM? Give me a break.

These are not my words. They're IPM's words in the 10-Q they filed on Black Friday.

Gerald, no offense met, but are you in business or more of a geologist, engineer, etc. $250K is nothing and a million isn't much more when you are focusing on 3 or 4 bil. minimum in PMs. You are focusing on that, are you not?

Are you trying to tell me that it's common practice and in the best interest of the company and its shareholders for a cash-eating exploration and development company with no way to generate revenue but to sell stock to "loan" (give, since it's converted to stock and will never be paid back) $1,000,000 to another cash-strapped company so it can pay the salaries of its officers, who just happen to be the same people who approved the "loan"? Bullshit. I may be a software engineer and not in the mining business but I ain't stupid either. This is One Million Dollars that they don't have to develop an economic process to extract these metals.
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