International Precious Metals (IPMCF) Message Board

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

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To: BillyZoom who wrote (32346)	5/22/1998 12:54:00 PM
From: Larry Brubaker	Read Replies (1) of 35569

Robert: I'm not trying to bury anything. They are doing a fine job of that themselves. I was merely pointing out that, contrary to your post from yesterday, the company does not have anything close to $1.1 million of working capital available. They've got $500,000 in cash which can't be spent because it is collateral for a loan of the same amount, and they've got 1 million shares of MGAU, currently worth $468,000, and probably worth much less when they actually try to sell them. Against these assets, they've got $1.6 million of current liabilities, not counting the $1 million they owe Omega. Hardly $1.1 million of working capital.

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