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

To: John D. McClure who wrote (26402)	11/15/1997 10:03:00 AM
From: Char	Respond to of 35569

John, Whats 30,000 oz of gold among friends. Dave

To: John D. McClure who wrote (26402)	11/15/1997 8:14:00 PM
From: John D. McClure	Respond to of 35569

*OFF TOPIC* I thought you all would be interested in the following missive from the Kitco thread as it provides an interesting backdrop to our situation. We now have proof that IPM has Gold, Silver, and Platinum. They just have to delineate their resource and find the best way to start cranking them out as cheaply as possible. Keep in mind the recurring supply problems for Platinum and Palladium as well. This should be read as an addendum to my post #26406: <<Date: Sat Nov 15 1997 11:01 arden (ardengold@msn.com) ID#201238: Shek - Actually the amount of gold in comex warehouse depositories in the 'eligible' catagory is about ONE ounces per contract - THAT IS IF THE GOLD IS EVEN THERE! As I have said before, I view the comex data as a window to see what is really happening. We will never see the whole picture. So I think the news I posted last night and repeated by many others is of profound significance for gold. The press comments on silver's rally has been about a worry of a short squeeze in Dec silver because there is only enough silver to cover half of the outstanding contracts - HALF C- 50%! - and they are worried? WHAT ABOUT GOLD? There is only enough gold in comex warehouse depositories to cover about TWO PERCENT or so of the December contracts - IF IT IS EVEN THERE! Then how about all of the derivatives - oh I think if I were one of those new shorts who sold gold yesterday as they tried to break 300, I should sleep very well this weekend knowing that I can easily find the gold to cover my short, CAN'T I ??? They don't even know what's happening yet. This news will not be significant until ACCESS opens Sunday night and most commodity traders won't see it until Monday morning - after Asia and Europe have a crack at it - Yes Monday opening on Comex should be really really interesting! I can only remember being on the wrong side of a short squeeze once many years ago when I was short cattle. They went from limit down at the contract low, to limit up in two minutes - the public never had a chance. If this starts in gold, watch out above.>> The shorts have been a busy lot lately, but things could get out of hand very quickly in the Information Age. *JDM* Long John