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Gold/Mining/Energy : IBI CORP IBIC (CDN)

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To: Doug Heuring who wrote (45)	3/29/1998 1:56:00 AM
From: Stocker	Read Replies (2) of 422

I'm also skeptical of the phosphate deal because it seems too good to be true. How could they snap up such a valuable asset for next to nothing in terms of investment? The news release says the mine was operated previously. Why was the mine shutdown or abandoned if it still had high reserves of phosphate? Why would the government practically give it away?? If the phosphate is practically lying there on the ground, why didn't another firm step in to take advantage of the opportunity long ago?? These are the questions you guys should be asking yourselves. The market surely seems to be questioning the deal. Most of what's been said on this and other threads sounds only like wishful thinking to me. "Hope" is a dangerous thing when it comes to investing.

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