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

To: Smurph who wrote (26363)	11/15/1997 1:30:00 AM
From: Larry Brubaker	Read Replies (1) \| Respond to of 35569

Smurph: I'll take a stab at some of your questions. 1. If the price drops Monday, it will probably be due to people like you and me selling. I doubt we'll see wholesale selling by the institutions. Their stake in this is small (by their standards), and a moderate price drop will be barely noticable to them. Unless, of course, they have decided to write off their investment. Then we are in big trouble. 2. Shorties can hold their position as long as they want. No time limit. 3. Yes, in order to make money on a stock (long or short) you have to close your position (shorts will have to buy to cash in). The exception is that if a stock is delisted, shorts don't have to cover. Much as I hate to say it, now I am glad the shorts are here. They will help to put a floor on the stock. 4. I have no idea if additional funds will now buy the stock. Seems to me like there is not a whole lot of information in the PR that would encourage their buying (e.g. is there any liklihood of higher recoveries than the fire assay on the ore?, is their any chance that an economical recovery process can be developed?)

To: Smurph who wrote (26363)	11/15/1997 1:38:00 AM
From: Furry Otter	Read Replies (1) \| Respond to of 35569

<<PS Long and Holding>> Hopefully no longer lurking Great post Regards, Otter

To: Smurph who wrote (26363)	11/15/1997 1:44:00 AM
From: Don Potenza	Read Replies (1) \| Respond to of 35569

Hi, Smurph! Please, someone, is there a problem here? There has now been third party verification as to .04 gold - enough to make a mine profitable. IPM's recovery has been stated to be about .28 gold +.28 Platinum+.28 Paladium. Is there any evidence here that these recovery rates cannot be greater than the assay ? IPM has stated this all along, and the display (provided by Auric) that they had at the AGM in fact verified this. We are going step by step here. Now that gold and platinum have been verified, I believe that it is only a matter of time that the true recovery rates will be verified also. This company has had to fight for every inch of integrity that it has earned. Lee Furlong, I respect you for your honesty and perseverence. As a matter of principal, I would rather lose $1 going long than make 1$ going short off of some poor guys' life savings. All the best to all of you, see you at the next AGM!!! Don Corleone

To: Smurph who wrote (26363)	11/15/1997 3:57:00 AM
From: Gerald Walls	Read Replies (1) \| Respond to of 35569

2. How long can a short hold his short position? Is there a time limit? Maybe one of the shorters or traders can answer this question. Forever. 3. In order to make money on a stock don't you have to close the transaction? A long does. A short gets paid to short as compared to a long paying to buy. If the stock goes to zero and the company busts then the short never has to cover and he has all the money he was paid. Plus, since he doesn't cover he still technically has an open position and owes no taxes.

To: Smurph who wrote (26363)	11/15/1997 3:13:00 PM
From: Joe Hartenbower	Read Replies (1) \| Respond to of 35569

Smurph.. Sorry for delay. Bed at 11:30 AM, up at 9:00 AM - first time in a long time.. nice to feel secure! >1. If on Monday, the stock price drops who is in fact the one selling? I for one do not believe that the large investors will be since they do not look at the numbers in depth until later in the development process. As long as they have independant verification at a reasonable level (currently .02).< ++I agree except, isn't the average verification closer to .04 or .05? >2. How long can a short hold his short position? Is there a time limit? Maybe one of the shorters or traders can answer this question.< ++I think it depends on who the shorter is and what the stock is. I think they have "margin calls" too as the stock goes up.<grin> >3. In order to make money on a stock don't you have to close the transaction? Warren Buffet is worth billions on paper but if he sold his stock he wouldn't be worth billions anymore would he. (By the way he holds a salary of $100,000 a year.) Consequently, in order to make money on a short don't you have to buy it back?< ++Exactly. Those who are so shallow and impatient that they think they can trade in and out of these stock after what they considder as negative news. (Use to be one of those until I learned from experiewnce) I think it is very positive news. >4. Were there not several gold market funds on the edge waiting specifically for idependant verification? Now that they have it won't they start buying albiet conservatively? Realistically I believe there will be heavy selling pressure at the beginning of the day but fear tactics such as its a scam can no longer work can they. If the shorts can not force the price down as they have so easily done in the past. They will have to cover eventually. Am I wrong?< ++I think there is a chance that the big guys will move in quickly so that fear doesn't destroy the opportunity of shooting up the stock by squeezing the shorts. That's why I have now gotten 8 e-mails trying to scare me into selling. My new response is mm!mm. >Maybe not to the moon tomorrow Mike Laine and Anne Lamb and Kimberley et al. but at least a profitable adventure to the Space Station.< ++I wasn't there at the very beginning of Bre-X, but I got there early enought to buy in and enjoy the ride. If they release the news as I think they will, I think you will see the same ride. Only, this time there is poof. It could turn on the mineral investment market. Too many are trying to make money the OLD way. This is the NEW way. Joe PS Long and Holding 2.