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

To: Ron Everest who wrote (645)	3/18/1998 12:11:00 AM
From: Abner Hosmer	Respond to of 835

Ron - I don't think it was as bad as it could have been, considering what has happened to oil prices and the rumors about Belgium. Yen has been looking weak again recently. POG had a bad day today and IPJ followed the POG. I took this as a sign that IPJ has probably gone as far as it can at this point without some fundamental news. Drop today was on low volume, but even so, I think we're at some risk of getting salamied here if this becomes a trend. Stock can drift a long way on low volume if the bid dries up. I've been in another that's been doing it. Don't mind holding my shares, but could've turned 'em around and got 'em a lot cheaper. I don't think we're going to get any support here from the current economic environment, and if POG drifts, we could find ourselves getting shaved .05 - .10 daily. Adds up after awhile. IPJ has shown pretty doggone solid support at around 2.90. Guess maybe we'll find out how solid it is. best regards - Tom

To: Ron Everest who wrote (645)	3/18/1998 12:17:00 AM
From: Abner Hosmer	Read Replies (2) \| Respond to of 835

On the bright side, Ron, I haven't noticed a propensity on anyone's part to short this stock after this nice run. Seems a bit unusual, maybe there is a good reason for it?

To: Ron Everest who wrote (645)	3/18/1998 1:13:00 AM
From: Abner Hosmer	Read Replies (1) \| Respond to of 835

Ron - Been mulling over some of the items that should support the stock. IPJ management has apparently done an excellent job of managing their resources and maintaining their focus. Two items that have gained increasing importance in this environment, and I think they've gained the respect of the market. Not very many juniors out there have done as well. Company is well diversified through their Phillipine and Mongolian properties. Barrick thought enough of JVAG's prospects to fork over C$1.1 million for 2.2 million JVAG shares and second dibbs on property development. This is in addition to IPJ's own properties in that country. Companies best prospects are in Indonesia. Indonesia has it's financial problems, but I don't see much threat of political instability. The govt has placed greater limits on the opposition parties, and has the ability to maintain control through the armed forces. Army likely enjoys US cooperation and training for special forces, intelligence, counter-terrorism, and counter-insurgency. Organized opposition to the govt is difficult, armed resistance extremely unlikely. Overall picture is of a company who is hedged on three legs through their Phillipine, Indonesian, and Mongolian interests. Downside risk from POG further hedged by copper project at Hinoba-an, showings at Mahakem, while retaining speculative upside for AU. Strong cash position that may be further enhanced by closure on Hinoba-an. Pretty fair for a junior mining company, let's see what the market thinks.