International Precious Metals (IPMCF) Message Board

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

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To: Bruce McGaughey who wrote (891)	12/21/1996 11:34:00 AM
From: Daniel M. Whipple	of 35569

Bruce and All: I am pleased with the Press Release. I think this is the first of many to come over the next 2 months. I presume that many of the posters on this thread have spoken with Eli over the last 6 months. The fact that this release does not constitute a BD report, I believe that an understanding of what the purpose and the substance of the report is. My understanding is that the report is being prepared for the purpose of presenting it to the Ontario -----? for valuation of the property. The report will consist of many components. Each of these components will be released to the stockholders in the form of Press Releases. Once all sections are complete then it will be submitted. I do feel that IPM Press Releases could have clarified this. One of the previous posts stated that the results were not assays. The recovery method used to produce these results is an assay procedure. Also note on Lee's message that he bold printed the word recovery. I take this to mean that he is trying to emphasize the results are actual RECOVERY results (granted bench scale results). I understand part of the release that states "enables the company to carry out assaying with a high degree of confidence, thus allowing for the work on recovery techniques to be advanced at a greater rate." They now have a target (which they feel is adequate) to reach on large scale processing. Before it was only what they felt the property contained. IMO there have been other concerns that has occuppied the company's time. I feel these activities have to do with our partner (Phoenix -----) I am sure that the situation that Bre-x Minerals found themselves in opened many eyes. Certain things cannot be presumed. I am looking for the following: 1) Platinum Results 2) Renegotiated contract with Phoenix 3) Drill program 4) Results from deep drilling done in June 5) Results of Pilot Tests. Most of these topics will be within the next 6 weeks. Good Luck, Daniel

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