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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Richard Mazzarella who wrote (32472)5/30/1998 9:12:00 AM
From: Zeev Hed  Read Replies (3) of 35569
 
Richard, I was under the impression that now it is over. What is left? They do not really own the rock, since they have not "discharged" their responsibilities. If the "dirt is good" as Runyon said (and why should you believe Runyon, he has not always been completely truthful either), it will certainly take some money to get the game rolling again. The stock valuation will go to sub cents, current management is going to start and pay themselves in stock (remeber how Montle ended up with more that 70% of the stock of CHIP), and then an outsider investor might be found and management and these outside investors will end up with 90% to 95% of the company. This is the "best case scenario". The current investors will be left with essentially wall paper.

When the stock was still in the $.5 and after the delisting in the US, I argued that thinking this stock in the $.25 is cheap is a mistake since stock can and will go to zilch. It seems this one is getting there if it is not already there.

It is different buying AMES with sales at $2 Bill for a capitalization of $20 MM, as a potential turn around, and this one with only expenses no sales even under the best scenario for 5 years and no means to raise any money. Time has come for funeral rites on this one, and CL recent muses on funding are just another non "sensical" that only "morons" such as I cannot swallow.

Zeev
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