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

To: Richard Mazzarella who wrote (31140)	3/23/1998 2:55:00 PM
From: go4it	Read Replies (1) \| Respond to of 35569

News that could possibly help Gold on inflation at least for the short term. usatoday.com

To: Richard Mazzarella who wrote (31140)	3/23/1998 9:46:00 PM
From: Alan Vennix	Read Replies (2) \| Respond to of 35569

Richard, I've been "on the road" most of the past 2-3 weeks, so have only been able to follow the threads sporadically. I did catch up on my reading this weekend, though, and I must say I agree fully with your analysis of the situation with IPM and their management over the past year. I too spent my career as an engineer/scientist, with a major oil company in the Exploration and Production sector. I frequently observed exploration geologists and geophysicists who were superb scientists and successful in the exploration arena, but who had no concept of what it took to get a discovery proven and on production. Most of them thought that finding it was the challenge and anything else was a "piece of cake", which may have been true with conventional deposits but was anything but true for frontier or technologically challenging areas - Alaska, deep water, fractured shales, etc. I met the principals at IPM and believe much the same thing happened. With the first glimmer of potential recovery of gold and precious metals, they believed the next step to production was just a matter of routine drilling, analyzing and mine building without recognizing all the problems that remained. I don't believe they were stupid or dishonest so much as naive when it came to going from "discovery" to "production". Hopefully, some of the management who now appear to be in control (e.g. Yellich) have a much better handle on what has to be done and how to get it done. If Doyle can get them the financing (which I believe he will do), I think they will come through for us. Just a matter of time, IMO. Alan