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

To: kimberley who wrote (27360)	11/18/1997 11:35:00 AM
From: Bear Down	Read Replies (1) \| Respond to of 35569

Kim, I see no rush to cover. I was probably a little premature in covering half yesterday, but like I said I'm small time. I will let the rest sit, I think we will see <$2, If I see a rally back to 5 I'll probably sell again when it looks like the top is near

To: kimberley who wrote (27360)	11/18/1997 12:05:00 PM
From: Bob Markley	Respond to of 35569

Sold the rest of it at 3 1/4 & 3 this a.m., ...now don't own a share of IPM. Why, ...it could be much lower as the exploration of Black Rock continues and yes, you are right again the convertable financing 'sucks'. As you already know I took a good size 'hit'. This is now a purely TA buy/sells for me. Back to basic trading strategy. My opinions: I don't see any buying right now other then short covering & some bargain hunters. Low of yesterday was taken out, it's still swinging down. Yes I was one that felt that a short squeeze was going to occur. On .25 opt it would have. It's obvious to me that the 'big boys' don't want anymore inventory right now. If they did they could have squeezed the shorts yesterday. They did not. No buying except to covering of shorts. It is obvious in my mind the the shorts had access to information that the grades were not as high, ... perhaps somebody was not shreading the trash?? I have been a supporter of IPM & probably one of pro-IPM people on the thread. I've been honest with my TA & opinions. Why? Because I believed in the company from a fundamental view. I believed the company about the .25 opt. The samples recently COC were representative of past results of the CL leach. Black Rock is, IMO at best a HUGE tonnage low grade deposit of AU/AG/PT ++ others. We will have lot's of time to buy as the development occurs. Yes, ... the financing will cause dillution & could cause the price to be forced lower to max. the # of shares to the Insitutions. The institutions imo, have no reason to go to the market for inventory now when it is clear that the company will have a constant need for $$$. BD was a total wastage of resources, imo. With the bucks that they blew on BD via a bad decision of picking the wrong firm, they could have had a pilot plant producing to cover development expenses. This should be a prime concern of management. At the AGM we were told that a test plant was to be built that summer at goodyear, ... Where is it?? Best always, ...take care, Bob