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Gold/Mining/Energy : Int'l Pursuit (T.IPJ) -- Ignore unavailable to you. Want to Upgrade?

To: Ron Everest who wrote (531)	2/9/1998 11:38:00 PM
From: Junaidi	Read Replies (1) \| Respond to of 835

I am fascinated by the steady price rise. Do you think it is due to something they have in Indonesia or in some other part of the world? Shouldn't they be making an announcement or shouldn't there be a query from the exchange? I am based in Indonesia so I am interested in all mining stocks with and Indonesian flavour although I don't (unfortunately) have any IPJ stock. I believe that Indonesia hosts some monster orebodies hidden away in the Jungle (Busang notwithstanding)- Just look at Grasberg and Kelian. good hunting, Junaidi

To: Ron Everest who wrote (531)	2/10/1998 12:20:00 AM
From: Mikey	Read Replies (2) \| Respond to of 835

Hey, I don't know if everyone has found this yet, but it will be of interest to those who haven't: pursuitgold.com It's on their web site and summarizes a bit about their potential. As far as recent price movement is concerned, let me reiterate some things I posted earlier. I attended the shareholder meeting/presentation at the Mining Investment Conference in Vancouver in late Jan and they had some very bullish things to say. Let me summarize my notes from the meeting: They feel that the Mongolian projects do in fact have a lot of potential, but they want to farm those projects out to others, so that they can use other companies' money for exploration in that area. The Phillipines they hope to sell, and use the cash from that to finance work in Indonesia. They have used the opportunity in Indonesia to narrow down their area of interest to SIX potential porphyry resources. Apparently they are pretty hopeful about the potential in Indonesia, because they want to focus on that...yes Mongolia and Phillipines are promising, but apparently Indonesia is more promising. Dattels wants to keep about $15 million in cash throughout the year. As far as the Phillipines project is concerned, they want to sell it and he gave a ballpark figure of $75 million. That's a total of $90 million cash per share, or approximately 3.00US. The bank financing is already in place for the Phillipines project. 3 billions pounds of copper at 80-100 cents per pound and a cost of 61 cents per pound. That's a 1-1 1/2 year payback and hopes to be in production in two years. They want to develop the Indonesian properties with that money, without getting any majors involved. No joint ventures, etc. Dattels wants IPJ to BE the major...his goal is to turn IPJ into a multi-billion dollar mining company. He feels that the Kalimantan property is the best geological area outside the Carlin trend in Nevada. Pursuit has the largest land package on the island. {They have identified somewhere around 4-6 porphyries, I get different numbers from different places} Dattels said they have large companies that are coming after them, but will resist. Testing (500m cut) at Manto preliminary results show 0.7% copper, 300-500 million tons, cost $6/ton, market value $20-40/ton. He gave around April for COWS. He said drilling in fall. As far as the "Special Situations in Mining", I got that at the conference too, I think it was in the Pursuit folder. Dated Jan 10th. It is a good read and people should try to get ahold of a copy if they can. Maybe can call IPJ and ask for a copy. There are a lot of people on board with this: James Dale Davidson (Strategic Investment) James Dines (Dines Letter) Brian Fagan (Fagan Report) James Blanchard III (Gold Newsletter) Scott Waldie (First Delta Securities) I don't know the extent of the involvement of all these promoters, but they are all quoted in the "Special Situations in Mining" report. Of course, it probably would have been helpful to write all of this the first time when it was at 2.00C, but oh well. There it is now. I figured everyone would have found all of that info by now. My opinion at this point is, with the cash on hand and IF they sell the Phillipines project for $75 mil, that will bring the company to 3.00US (approx 4.20C) CASH. That does not include potential of any of the Mongolian properties, or any potential from Indonesia. The Indonesia project may be a CLUSTER of porphyries, and even if it isn't with all the people on board with this one it should at least be a great promotion! They may have multiple clusters of porphyries, according to "Special Situations in Mining". Dattels stated goal is to not JV, but to turn IPJ itself into a multibillion dollar company. OK OK that's all great, next stop the MOON. But they don't have COWS yet, they don't have anything remotely close to resembling a PROVEN resource in Indonesia, and the sale of the Phillipines project is not final. So they have $15 mil in cash and a lot of potential. But that's what speculation in mining plays is about! With the run up to almost 3.00C lately, who knows if it will consolidate or keep going. M.

To: Ron Everest who wrote (531)	2/10/1998 1:42:00 AM
From: RonS	Read Replies (1) \| Respond to of 835

Ron I just received my Feb. edition of Mining Share Focus newsletter from James Blanchard and its 7 page summary paints an INCREDIBLY bullish picture for IPJ. Here are a couple quotes: "a new world class copper-gold discovery(Mahakam) that hosts no less than six massive porphyry targets identified so far...has become the jewel in Pursuit's crown" "the enormous potential of Pursuit's Mahakam discoveries is undeniable" "the sheer size of the targets at Kendeng, convince Pursuit's geologists that they have not one but three targets with multi-million-ounce potential." "Pursuit's two projects (Mahakam and Kendeng)are the very definition of world class" "We are giving IPJ are highest recommendation at these price levels ($1.80)" They go on and on and also discuss Nevada and Mongolia and Hinoba-an, but the Indonesian properties is where's it at! After reading it, I think anyone would be convinced to buy, and it sure looks like that is exactly is what happening. People are desperate to buy now. Regards RonS