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Gold/Mining/Energy : Int'l Pursuit (T.IPJ)
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To: Ron Everest who wrote (716)7/7/1998 5:06:00 PM
From: NPValue  Read Replies (1) of 835
 
Earlier today I spoke with a Donna McDermott at IP. She told me that a team of Minoro executives were arriving in Toronto this afternoon to discuss the financing deal. She would not discuss whether the feelings were positive or negative as to whether the deal would be closed or not. However, she did state that we will know something by the end of this week, if not possibly tomorrow.

I am not feeling good about this. I think that given the dire straits in Asia, the poor prices of copper and gold, and the general market sentiment, the deal may not go through. Think about it; if you were an investment banker, would you put up the money right NOW? While the property is great, the market is not right now. It is a real shame.

I hope that IP can hold out for the long term, because the mineral wealth of the company is there; this is just the worst possible timing. If the deal does fall through, the stock may fall to $0.30 US.

What do you think? Can IP survive without the Minoro deal?
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