International Precious Metals (IPMCF) Message Board

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

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To: Richard Mazzarella who wrote (3464)	3/6/1997 2:17:00 PM
From: Zeev Hed	of 35569

Richard, my hat off to Mr. Furlong, the deal with Phoenix sure seems sweet to IPMCF, if indeed they are sitting on these billions of goodies in the ground. Phoenix accepted stock at $10/share, which is really dandy for IPMCF (the book value will zoom), what is not yet clear is where will the $17 MM in cash come from, and at current prices, it should not be dilutive at all to issue an additional 2 MM shares. It seems as if everyone is running over each other to get some of this stock, excellent time for another small PP. Zeev

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