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 (955)	12/25/1996 3:45:00 PM
From: TrueScouse	of 35569

<<our company ought to be worth $33.00 per share>> "Ought" is the key word, Bruce. It's actually only worth about $4.187 per share -- i.e. what the market's prepared to pay for it! But there's no harm having a target price for when the value in the ground is fully recognised. My own targets are increasing as the announced recovery figures increase. Currently my preliminary target is $44 (0.25 opt Au x 50 million tons x $70 per oz x 80 percent ownership). I very much hope to see this figure some time in the next 6 months. As CL points out, if they come up with twice as much platinum as gold (as in the previous series of tests) and if BD signs off on all this and the estimated reserves, then $44 could be _very_ cheap! And then there's the possibility of depth to 300 feet and another 22 sq.km. to explore... Looking forward to an exciting 1997. Best wishes to you and all SI members for the holiday season. Howy

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