International Precious Metals (IPMCF) Message Board

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

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To: Tom Harper who wrote (1502)	1/19/1997 12:22:00 AM
From: C L	of 35569

Hi Tom, 1. No -- The lab is doing the work presently by themselves. The idea is to come up with the procedure to run a 1100 pound batch. They started with 3 gram sizes and are probably working on about 20 pounders by now. When you step up a reaction size, it's not linear. The temp., chemicals needed, time etc. will change and maybe not all in the same direction. 2. The tests from the 121 holes are from quite awhile ago. BD supervised all phases of the drilling, storage, lab work etc. They were not there for everything that got done -probably a certain %. 3. The lab is attempting to learn HOW to scale the sizes up for a full-size production plant. When they get it down pat --they'll contact IPM and IPM will have BD come in and audit one or more 500 Kilo runs. The regimen has been decided. BD will hire people to: dig the pits, bag the dirt, deliver it to the lab, guard it, do the process, and analyze the results. IPM will not be anywhere near any of it. BD knows what they started with and what they end up with so they can sign on the extraction process and authenticate it. This should settle all this once and for all. There will probably be a % of the public that still won't believe but it won't make any difference. The funds will believe and run the price of the stock up. As they drill up more of the land they will quickly add reserves. 4. Here's my OPINION. I think they have the numbers but are afraid to release them. In the earlier tests the co. reported Pt. numbers about twice as high as Au. Let's say that's how these tests came out -- what would be the markets reaction to about .54 O/Ton Pt.??? A lot of people would have a big laugh and the SEC would probably halt the stock. If I were running the show - I'd make pretty damn sure I could back up my words. Perhaps a bunch of lab reports, maybe a signed contract from the refiner. This is all speculation, but the longer it goes with no word the more likely the scenario. If there was little or no Pt. there it would make things a lot easier for all of us and I think they would have reported right away. 5. That advice is going to be excellent for a lot of companies - not just Stillwater. There are a lot of marginal gold and platinum producers that are going to have to make some adjustments. Your proof is coming. C L

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