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

To: Karl Zetmeir who wrote (30193)	1/26/1998 2:33:00 PM
From: Matt C. Austin	Read Replies (2) \| Respond to of 35569

Last week I had a discussion with a gent that runs a lot of money in Sydney in metals funds. He said the same thing is happening down under as Canada is experiencing. A lot of explorers and juniors are closing up shop. He knows of at least 20 that have folded recently and is expecting it to get a lot worse before it gets better. They can't find funding for exploration or opening a new mine. Technically, gold looks terrible here and appears poised to make another run down to the $265 area. The desert dirt companies are the only game in town anymore.