Chuck, rather than do a long reply thats asks questions about your
post, the following is where I think IPM is now at.
(1) Obtained extension to stay into chapter 11 because ongoing tests
of the Black Rock dirt have not beened completed. This assumption of
testing to me is only a rumor or here-say. If such is true, then a
possible PP is paying for the testing. If all true and tests results
show dirt have mineable precious metals, then PP will happen. From
this hoped for outcome, I would not expect the IPM company to engage
in the cost of doing R&D, but to simply obtain a liscense to use an
existing extraction process.
(2) The extension to stay into chapter 11, if not for above reasons,
then I have no idea why, in that what restructuring debt plan would
IPM present to the courts. I do not know who the debt is against, but
with a possible shift in the price of gold upwards, and Maxam and GPGI
showing that desert dirt has mineable precious metals, then to me a
possible investment would be for those that the debt is against, to
accept in lieu of 1/2 million dollars, to let the IPM Company continue
with these participtants accepting that 100 millions new ipmcf shares
would be issued as described in prior posts, but with the difference
being that 5 cents per share needed rather than the 10 cents. This
would obtain 1/2 million dollars to prove the dirt, and those that
have the 1/2 million dollars owed as debt would accept something I
remember Richard mentioned, as lean against future profits or something
called gold shares or something else.
(3) As I stated, I'am out of the loop, so I only know what is presented
on this thread, and so far the "dark forces" have not yet been identified.
Doug |
