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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Tom Harper who wrote (3978)3/12/1997 9:25:00 AM
From: C L   of 35569
 
One of them baseball players (not Tony Gwynn) said something about "deja vu -- all over again." In 1994 Niles Niemuth of the AZ Dept. of Mines (AZDOM) went to the BRX site and took 4 samples. He turned them over to a "registered assayer" for assay. They used a standard fire assay and reported no precious metals values. The Toronto Stock Exchange hired Kilborn Engineering of Canada to visit the site and take samples. Results from a standard fire assay came up with a bunch of zeros. IPM had told both groups they would get zeros if they used a standard fire assays.

The only difference between yesterday and '94 is the shorters are a different group and IPM has a lot more data behind them. BD has been with us for 2 1/2 + years and there are 6000+ leachs. The Fiero brothers most likely gave the nod to a Bloomberg reporter to bring in Mr. Niemuth. Mr. Niemuth is a mining engineer, not a chemist, metalurgist, or geologist. When Mr. N was queried yesterday about why BD would be working for a scam company, he replied "Thats the one thing I can't figure out."

Take your pick folks -- listen to Mr. N or the company. If you believe
IPM's side of the story, buy some more stock -- if not sell it and take your licks. I've been at this for 3 years -- I'm not wasting any more of my time talking about it. I have close to 80,000 shares of the stock and I'm going to be doing some buying -- probably on Friday.

C L
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