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Gold/Mining/Energy : International Precious Metals (IPMCF) -- Ignore unavailable to you. Want to Upgrade?

To: Larry Brubaker who wrote (23998)	11/1/1997 1:52:00 PM
From: John D. McClure	Read Replies (1) \| Respond to of 35569

*OFF TOPIC* Larry, FWIW... I stopped by my favorite coin dealer today to pick up a gold bullion coin to add to my small stash of silver. He told me the same type of thing that I heard over on Kitco from several posters across the country, which is that they can't keep gold in stock anymore. It seems while Joe Average is telling the pollsters that he is not worried about the markets gyrations, he is also stocking up on the P.M.'s. Doesn't surprise me one bit. It is simple human nature. I don't put any stock in polls of course. I also heard that Comex gold stock levels are dropping fast and that, at present rates of drawdown, within two or three weeks there could be ZERO physical gold to cover all those derivatives the paper-pushers love to use as a gold substitute and for shorters to borrow against. It seems one Comex warehouse is empty already from what I read. If any of you can confirm or disprove this please do. If true, this could be an explosive situation. The Central Banks will be forced to sell more of their gold, but I wonder if they can because of those infamous gold leasing arrangements they got into long ago. Yep, things are going to get real interesting from here on folks. Did you know that although the Chinese people are now allowed to own gold, they are limited to purchasing CHINESE gold. This should help keep their production from spilling out onto world markets. Yes, most Chinese people are poor and you would think unable to spare the money, but most folks in India are pretty poor too and yet they still manage to scarf up quite a lot of gold and silver regularly. *JDM* Long John

To: Larry Brubaker who wrote (23998)	11/1/1997 7:19:00 PM
From: J.L.	Respond to of 35569

I thought that some of you would get a kick out of the article below which shows that we are not the only ones who are victimized by bad reporting. In this case it appears to be an honest mistake, but who knows. This company appears to have gotten an immediate retraction from the papaer that printed it. This also appears (to me) as a good example of how to directly deal with a bad situation and put out a good PR from the company perspective. Jeff Lund Brush Creek Mining and Development Co., Inc. (NASDAQ:BCMD) today announced that The Union, a Grass Valley, Calif.-based newspaper will print an article on October 30, 1997 retracting certain statements and clarifying others it made in an article which appeared in the newspaper on October 27, 1997. The Union stated that Brush Creek had $28 million in debt. In fact, the company's long term debt is $362,000. In a letter received by Brush Creek from The Union the reporter responsible for the story stated, "...I, however, am solely responsible for the misstatement mentioned above, and I extend my deepest apologies for the mistake." James S. Chapin CEO and Chairman of the Board stated, "Because the market price of Brush Creek shares was adversely affected by the misstatements, we felt it necessary to issue a correction." He added, "Our mining at the Lower Brush Creek continues to produce profitable ore as we make our way to pillar No. 4. Further, we continue to work diligently to arrange and conclude a joint-venture agreement with a partner, structured in a way that we believe would enhance shareholder value."