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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: C L who wrote (996)12/26/1996 11:17:00 PM
From: Claude Cormier   of 35569
 
CL,

Altough a BD sign-off on the leaching process will represent a major step ahead and a good reason for the stock to move up big time, it is clear that IPM will have to go through some (if not all) re-assaying of the 2400 samples on the 1st kilometer. This will be needed to confirm the tonnage of 50M tons and the average grades. Also, another major event that should create some waves is the assays of the 5 deep holes to the bottom of the sediments.

I have no idea what will be the priority.. to re-assay the first 30 meters or to check what is the grade down deep.

But I am almost certain that the largest moves in the stock price will be after the new grades are confirmed on the 1st km. Because of the results of the first round of assays with the clhoride process, it seams obvious that they will match the last announcement of .25 opt as well as the coming announcements from the pilot program. Still the market will probably ask for these results before moving the stock price to where it should be for such a 50M tons measured resource in the 1st km..which is probably $30-$40 (possibly much more if the platinum grades come in equal to or better than the gold grades).

Still, the way IPM trades these days, it could well be that the stock will go way over its 1996 high in january.

Congrats again on what looks like the best pick of your career and the most intriguing and exciting situation I ever invested in!

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