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

To: Larry Brubaker who wrote (28719)	11/30/1997 2:33:00 AM
From: Larry Brubaker	Respond to of 35569

One thing seems clear. If this company doesn't get some financing soon, Bateman won't have much of an opportunity to explore those 30 different recovery methods. As of September 30, IPM had $815,000 of cash. IPM used <$1.8 million of cash during the second quarter, or over $600,000 per month. If the second quarter cash burn rate of $600,000 per month continued into the 3rd quarter, IPM would have been out of cash right about the time they issued their "Black Friday" PR. If they unloaded their 700,000 MG Gold shares they could operate for a couple of weeks, but not sure whether there is a market for Namibian Copper shares. No wonder why they said they expect to be drawing down on their new financing "by the end of the month."