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Gold/Mining/Energy : International Panorama
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To: Dan P who wrote (20)12/12/1996 9:59:00 AM
From: Malcolm Stagg   of 264
 
Daniel:
ILP opened today at $3.20 with light volume so far. Expect there will be some profit taking based on run-up and market conditions. According to latest VSE short position summary there is no reported short position in ILP as of Dec 11th. There probably is now but not yet reported.

As far as the reports are concerned the latest one by Scott Fraser (the Natural Contrarian editor) gives a price range as:
"conservative 1997 high of $10.00 CDN"
"realistic blue-sky share price of $20.00 CDN" (based on todays market prices for cpobalt and financing in place)
"further down the road it's not hard to see 15 times earnings of $3" ($45 CDN).
This piece is really no different or less credible than other projections of ILP. They got me interested back in August. Been sent many pieces like this by Juniors in past. The VSE is really cracking down! (in this case).

For example HSBC Capel issued a Special Situations bulletin in August. They are a respected London brokerage. They projected a US $12.60 price ($17 CDN).
Also Michael Schaefer (Global Gold Stock Report) put out a bulletin in
August where did similar calculations and projected a range of $42.50 to $75 CDN per share once in production. He carries it as one of his ongoing picks. His assumptions on market dilution were optimistic but you get the picture!

I'm holding at this point and may buy more.

Malcolm

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