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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: puzzlecraft who wrote (31110)3/22/1998 9:16:00 AM
From: Richard Mazzarella  Read Replies (2) of 35569
 
John, all the things you describe are dangling. I am convinced that the metals are there. Just last week Maxam's Runyon, who I trust, told me that BRX is a good property. I believe that the problem this company had was that in its enthusiasm it believed everything good and discounted anything negative. I think I understand their dilemma. The reason I was first drawn to IPM was the methodical scientific approach that they were applying to prove their property (I was a scientist). Their approach was very different than the hit or miss methods by the other dirt's. However, the scientific approach is very costly and slow. Last year, somewhere in their thinking was an attempt to bootstrap what they knew and believed to leapfrog the company. Things got carried away. Information from consultants was eagerly believed without the necessary analysis, they wanted to believe. An easy mistake for the eager and enthused, a problem for many small companies. I don't think that there was anything sinister, just poor judgement. Why would the company stake all the ground around them if they didn't believe what they were being told? Why didn't insiders own more shares if just a scam? Don't get me wrong. IPM could go belly up, that's in the price. However, I think we could eventually see new highs and have taken that bet. All my speculation of course.
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