To all: I just posted the following on the IPM thread. Thought you all might be interested
Regards, Ed
Charles Bankes (32690 )
From: Ed Fishbaine
Friday, Jun 5 1998 5:43PM ET
Reply # of 32692
To all:
You might be interested in a portion of a long letter, as yet unpublished, by Russell Twiford, consulting
metallurgist to Global Platinum + Gold. Twiford wrote this letter in answer to Slanker's recent stupid and very
tendentious attack on all the desert sands.
I quote:
" Lets digress for a few moments to another company commonly known as IPM. Several years ago Lee
Furlong, the president of IPM and Paul Mentzer, project manager, visited me at my lab. I am quite familiar with
their ore, having assisted Greg Iseman of the Iseman Consulting
company , run some of their ore samples as a favor to him. They asked me to help find a fire assay method that
would prove that they had at least .05 au in their ore. I did so, several methods, verified by Greg Iseman.
Then I did 5 assays in front of everybody using a certain technique that is available to anybody, all you have to
do is ask for it. Using 5 grams of their ore COC I recovered by fire, cupels with a seeable and weighable
precious metal bead in the center. Later I was told that they had taken the beads to the local electronic
microscope facility for analysis and they assayed the precious metals in varying percentages. well, if the bead
weighed .10 mgs and you used .5 grams, 1x60 (.5 grams into a 30 gram assay ton) you would have 6 opt of
precious metals in the ore.
What I am wondering about is why didnt Furlong or Mentzer show their high-priced consulting company what
they could do. In querying Furlong his retort was this "Our investors have to be able to have us produce
numbers using the old tried and true methods. If I was in charge I would go ahead with this type of info but I
am not in charge."
At that time he was president!!! A lot of trusting investors took a shellacking"
Why didn't Furlong follow up? All you IPMers put that in your pipe and smoke it. Your company has the
metals in the sands. My guess, and it is purely a guess is that Furlong realized how hard it would be and time
consuming to work out the problems of extraction and that he would suffer all the doubts and digs and attacks
that ensue when a new untried method is being developed. He said he was concerned with what his investors
wanted. But by this he must have meant that his investors wanted immediate results. Well, his immediate results
were to drive the price to $14 instead of taking the company through the hell of developmental struggle. You
guys paid for it. Now with IPM at 10 cents where will the money come from to start over and do it right?
Maybe through some takeover and reverse split 50 to 1. What does that do to your share positions?
By the way, if you want to recoup your disaster with IPM turn to an honest company which is on the verge of
explosion. You know which desert sand company I mean. The one which has gone through the developmental
hell and is primed to emerge into the sunlight. Wake up!!!
Regards to all and commiserations to all who have suffered.
Ed Fishbaine
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