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

To: Richard Mazzarella who wrote (27596)	11/19/1997 12:08:00 PM
From: kimberley	Respond to of 35569

To gabenson: you can take me off your mailing list... i've blocked your mail, so your wasting your time on me. kim

To: Richard Mazzarella who wrote (27596)	11/19/1997 12:14:00 PM
From: HungryLion	Read Replies (5) \| Respond to of 35569

Look what I got my hands on. Spin doctorin from ronnie Struthers. Viewer discretion advised. May not be suitable for those who have weak stomachs. I don't know how IPM stock will trade today and nobody really knows for sure until the day is over. From the mood of investors, my feeling is it will open up down. One thing I do know is there is a lot of confused investors who will likely sell their stock this morning. The shorts will use this to their advantage to try in one last desperate attempt to alleviate themselves from their situation. Will the calmer and more astute institutions buy a lot of stock? Nobody knows for sure. If you are one of these confused investors and I certainly can understand why, it is my opinion you are making a mistake selling and you should consider a few rational things about this situation. It is a good thing the news came out on Friday as the weekend was certainly needed to digest and analyze this I believe the news release on Friday was very significant. It does not tell us how much gold is at BRX or how much platinum. We can not draw conclusions of a huge 50 million oz deposit of precious metals. It is my opinion that only one plain and simple conclusion can be drawn from Fridays news release and that is: "What IPM has been telling us about the BRX property is true" That is basically there is potentially economic grades of gold and platinum group metals and lots of them. This is all really IPM has said and produced evidence of numerous tests with various reported results and grades. They have never hyped the stock that there is a vast amount of tonnage of 1 opt precious metals but have presented honestly every test and result of their work. Please read on and let me explain about my conclusion and why I remain so bullish on IPM. Fridays news release was a verification of potentially economic grades of PMs and verification of IPMs previous test results of gold and precious metals. The key thing is this was done by 3rd party consultants Bateman Engineering and assay tests completed by an Arizona registered lab. The Arizona lab is very important. We now have an Arizona State registered lab that has directly confirmed potentially economic grades of precious metals. This fly's entirely in the face of the states own department, The Arizona Dept of Mining (AZDM). It was the AZDM that was quoted by Bloomberg, Barrons, the Northern Miner and many other widely followed publications that there was no gold, no platinum and IPM was a scam. This is now verified as completely false and those who followed the AZDM advice have sold their stock or never bought it or even worst yet, have sold the stock short and are now on the wrong side of the fence. There is mounting evidence that could result in a class action law suit by shareholders and past shareholders of IPM against the AZDM. Whether this happens or not does not really matter. Many investors are disappointed that the confirmed grades on Friday were not a lot higher. There is one simple reason. In order for Bateman to conduct a verification program they had to take samples from an area that was not recently worked on and a location unknown to IPM and others untill after the fact. What is very revealing that I learned late yesterday is that the results reported on Friday compare very closely to drill results reported earlier by IPM on nearby drill holes. Again a confirmation that IPM has reported honest fact. The previous results of around 0.25 opt gold with the Auric fire assay was simply on an area of higher grade ore. Since we are on the topic of Auric. What happened to them? I mentioned that Bateman Engineering was the best thing to ever happen to IPM. Briefly when Bateman first became involved with IPM they visited Auric along with IPM to investigate Auric's work. Auric had this fire assy that worked very well but Auric wanted IPM to pay a lot of money for its use. Quietly Bateman pulled IPM aside and basically said there is no need to pay for this, we can do it for you. This has impressed me so far about Bateman. In approx two short months of barely getting their feet wet they have come up with, tested and handed over to an Arizona lab a fire assay that works. I am very optimistic that Bateman will complete many other tasks to put BRX into production. I was an investor early on in the Nevada gold rush and the discovery of the Carlin Trend. There was all the same controversy. At first the gold was hard to fire assay. It was too fine, was not visible. Critics, including mining experts said it could never be recovered. It was uneconomic. Well guess what, Nevada has become one of the largest gold producing areas in the world with the lowest costs of anywhere else in the world. Nevada witnessed a huge staking rush and investors who bought the right stocks made fortunes. This did not happen over night or very quickly. It will not happen very quickly with Arizona and IPM. Gold has basically been in a bear market since the early 1980s. The best performing gold stocks and some of the best stocks period have been those companies that exploited the Carlin gold trend. Barrick, Franco and Euro Nevada rose and their stocks split and split and split until the original investment at a few $$ became $100s. The reason I am so bullish on IPM and some other desert stocks is I believe we are on the verge of another Carlin type discovery. The big difference is mother nature has blessed this area with a little extra bonus called platinum. In 1998 when drill results start coming from IPM, confirmed by Bateman there will be a huge staking rush in Arizona. This is already begun, but so far at a slow trickle. I have told you about Golden Thunder and just last week I learned of another Vancouver junior who has staked land in Arizona. Lets just assume for a moment that what IPM has been telling us is real. What are we really looking at on the BRX property. First off lets not assume huge rich grades or vast amounts of metal locked up in some complex ore. Just look at the known test results to date. Previous IPM work has outlined 0.046 opt AU in the 1st sq kilometer. PGM group metals have shown up in tests with grades equal to gold or better. Particularly Creelman's work which indicated grades better than the gold. IPM has revealed to me several times that silver runs around 1 to 2 opt. Friday's results came up with 1.48 opt silver. When drill results come out over the course of the next several months we should see more results like we did on Friday, we will also see results around 0.25 like the Auric sample. I expect we will see many much higher results also. I personally have witnessed some much higher assays. It is the nature of all mineral deposits that the grades will vary in different locations. Lets not assume any high grades of ore but grades I think are realistic and reflect all the compiled data thus far at BRX. What might a ton of ore be worth Using Friday's metal prices, Gold=305, Silver=5.07, PT=391, Pd=210 Gold at 0.046 opt = 14.03 Silver 1.48 opt = 7.50 Pt 0.046 opt = 17.99 Pd 0.046 opt = 9.66 ------------ Total = $49.18 Bateman Engineering claims they have processes that could recover these precious metals for as little as $10/ton. I put this question to Lee Furlong on the weekend and while he said it is too early to know costs, he did confirm Bateman's $10 number. To me this is not unreasonable and with the worlds largest engineering firm at the helm, I have a lot of confidence. I know for a fact that bulk tonnage mines can move and process ore for as little as $1/ton. The BRX ore body has a zero strip ratio and is laying on the surface, major infrastructure is nearby. This all points to low cost and $9 more for recovery of metal is not unreasonable. The only way one of the Desert companies is going to reward shareholders big time is to prove up an ore body with drilling, calculate reserves and proceed to a bankable feasibility. Perhaps 1/2 $billion will be needed to build the type of mine capable of processing the bulk tonnages of ore at low cost needed to process the desert ore. Just like the bulk tonnages of the Carlin Trend. With ore worth $50/ton and costs at $10, this mine will be very profitable. If IPM proves higher grades it is all gravy. There is no reason to even assume the 1st sq km is the best grid. IPMs early in house results of the 30 deep holes and surface work are showing higher grades of gold to the SE and higher Platinum in the North. Where the best grade ore is and how much there is will not be known until more drilling and results become known. Indications thus far is that there is potentially 12 sq kms of economic ore. There is no doubt a large tonnage mine is the way to go and IPM is the only desert stock thus far advancing towards this goal. You don't buy a stock like IPM for quick profits. Just like the stocks involved with the Carlin trend, you simply buy them and watch them grow over the years. Can you make a big quick profit with IPM? Well actually at the moment you can. The Institutional Investors will soon figure out what I am saying and the huge short position in the stock willwant to cover their positions before drill results start flowing. This will create a huge short squeeze in the stock. IPM stock price will rocket ahead and after the squeeze is over it should come back down to a level that reflects the speculation of the drill results. Therefore any pull back in the share price over the next several weeks or days I see as the last opportunity to buy this stock cheap. 1998 will be a wonderful year for investors in the desert stocks, regardless of where the price of precious metals go. Feel free to pass this on or post Have you filled your puke pail yet <grin>? More to come later today. HL

To: Richard Mazzarella who wrote (27596)	11/19/1997 12:26:00 PM
From: ddl	Read Replies (1) \| Respond to of 35569

Hi Rick, Ann, Charles, all... Wow, what a difference a week makes. Last Wed. morning, I go in for a gallbladder operation and come back to this mess. ...2,000+ posts, 100+ e-mails, 60% drop in IPM's price and by the looks of things, you guys can all see each other now and are all swimming in this pool with the sharks. But I notice a few of the big longs are missing... Obviously I'm very dissapointed over this PR, but I really feel sorry for those who did not take a more cautionary approach to investing in IPM. They're the ones hurting. Well, I'm going to finish reading off RS's stuff, IPM's crap, some of the new posters' disertations, (Greystone, where do you find the time to write those well supported posts, better yet, who the hell are you?) and be back latter. By the way, IPM's new 10Q is out and it's pretty interesting (#'s that is). - denis