International Precious Metals (IPMCF) Message Board

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

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To: Alan Vennix who wrote (705)	12/12/1996 2:15:00 PM
From: Bruce McGaughey	of 35569

Let's just do a "Suppose", based on a gold level of 0.10 opt for the first sq. km, down to 100 feet. Maybe we'll get more, maybe less in the BD. I'm just guessing. 0.1 x 50 mil tons= 5 mil ounces of gold. For every 10 mil ounces of proven gold, BRE-X got a bump of 25.00 per share. Just for the sake of argument, let's just say that will hold for IPM. I know, these are apples and oranges, but... Therefore, share price should go to 12.50 if we get 0.10 opt in the BD report, correct ?? There's 300 feet to bedrock in the first sq kilometer, right ? Therefore, intermediate target should be 37.50. Howy ??? What say you ?? Or anyone else. It's been a while since we discussed valuation. Let's give it another go.

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