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

To: Richard Mazzarella who wrote (31453)	4/5/1998 3:03:00 PM
From: Matt C. Austin	Read Replies (1) \| Respond to of 35569

This is probably a good example of the complete ignorance that is being carried on by M. Coggins and the idiots that hang around him. To the best of my knowledge, there is not one statement of fact in this e mail, the whole thing is his imagination. You will note here that he says that Behre Dolbear is a scam company. I am forwarding a copy of this to Barney Guanara for comment: ---------------------------------------- From: "bernie lumbert" <blumbert@hotmail.com> Add to Address Book To: mausti@yahoo.com Cc: rogercom@sure.net Subject: a fine gentleman, Mason Coggins Date: Sun, 05 Apr 1998 10:10:05 PDT I don't mind the vituperitive insults -- I am used to them. But we are so lucky to have a state employee as honest as Mason that I have persisted in defending him and will untill the hoax is closed down by the authorities, probably very soon. I noticed the IPM trailer missing at the Black Rock site, no one can find Sam Shaw and the Goodyear plant hasn't answered numerous phone calls. By the way, who is Yellich? Was he part of the Black gold scam at K-Fuel? IPMCF, (fraud for over 15 years, 80 trips to private placements, 100,000,000 shares issued to insiders, quoted at $480 (Canadian) in 1987, like its predecessor, Marathon Gold and Continental knows when it is time to quit. You can always pay somebody to file fake assays, and that's exactly what Bre-X did and it is what Behr Dolbear did. They wern't even licensed to do business in Arizona or registered here. There is some very faint trace of gold in the one km grid. Very, very slight. My assays showed "nil". And the next person who says I was involved in ANY way with ANY short get sued.

To: Richard Mazzarella who wrote (31453)	4/6/1998 4:13:00 PM
From: Ron Struthers	Read Replies (1) \| Respond to of 35569

Thanks for the post Richard, I put a post up on compuserve, I will copy here I posted to compuserve in regards to what data might be on IPM computers, I thought I would share it here A nice post but it means little. I too have 25 years experience in computer technology and I couldn't care less what is on IPM's computers. What is in the ground and can it be developed is what counts. This data base you are looking for is not some huge item. The data from 121 holes could fit onto a floppy disk. The IPM data base is really a collection of 3rd party geological, sampling and test results that are mostly hard paper copies done by B.D., Vercombes and others. A data base would be of no use, no banker would lend on IPM's data base. These extensive 3D engineering programs and data bases you speak of are done by 3rd party engineering firms such as Bateman or B.D. A junior minig company never gets much into this other than for their own information purposes etc. Any extensive work is a waste of time because they would have to get a 3rd party engineering firm to do it over again anyway and is likely why IPM never got around to it. IPM just has to do what is needed to plan the next exploration phase Senior companies like Anglo or Barrick will do some of this in house because they have the resources and many projects to apply it to. These companies never report a lot of in house assaying and metallurgy because investors are more concerned with production and cash flow. They have put countless mines into production so have credibility. Even so they will hire an engineering firm in some cases, especially if they have to borrow $$ for the project. As I have mentioned before, many investors bought into IPM because of the story and hype and don't have a good understanding of mining exploration. I am not directing this at you, it is a general comment to put my next few words in context Everyone talks about the 0.046 verses 0.25 opt and other numbers are mentioned from time to time. People talk as if they imply this number to the whole property or is an expected recovery number or something. Anybody in mining knows that assay or test results will and can vary widely between locations. Lee Furlong mentioned numerous times and to many people that he felt the 0.25 opt was a hot spot (or a high grade area on the property). This info was in my newsletter as well. It is typical in mining exploration for investors and the company alike to talk about the high numbers because this is the good news items. A total grade on a property cannot be done until many samples are taken and cutoff grades applied. This is what IPM is working on now with Bateman. In fact the 1st sq km. might not even be the right spot to begin a mine. It is possible that there are higher grade areas on the property and you can bet you will see assays greater than 0.25 as well as lower.. After more than 10 years of mining in Nevada, the higher grade, deep deposits are just being developed now. In all my analysis, I have used the 0.046 opt gold number and applied about double for PGEs. This is based on know info confirmed from BD. My comments have been, if they can in fact improve on these numbers because of the complex ore issue masking higher grades than this will be gravy. Many like to harp that IPM is dead and the story is over. This is far from true. The metals are there, this has been proven. Next is how much is there and then how much can be recovered. Too much is known and too many peole now know about it for the desert gold story to roll over. Many others are and will join the rush <<A 'good' story will stand on its own two feet without needing vociferous support.>> The story was never good, IPM always had it's scam callers and nay sayers. This was much more evident than most mining stocks. However there was a time when the optism was definetly in charge, as Institutional & retail investors drove the stock to highs. This was in what I called 'mining mania' of 1996 and early 1997 before the BreX scandal broke. It was very similiar in what we are seeing in the general equity markets today (DOW) a mania. Some time soon, something will pop this bubble too Just as sure as another mining mania will occur. IPM, today is still an attractive risk/reward play. The stock carries all the usual risks of any mining exploration play However in some ways it has less risk because a potentially economic deposit has already been discovered. The risk of economic extraction still remains. The potential reward on this stock is higher than most mining plays. At the same time, the stock carries an additional risk than most mining plays. I refer to it as a political risk. The controversy and the will of some people who are trying to protect their egos or are acting for other reasons to deter IPM. This has cost IPM time and $$ which has diverted full attention from BRX. Sooner or later this will be resolved and if IPM is the company to survive it, the rewards are potentially huge. The hugest oil reserves in the world, 'the oil sands' were once called scams and management of those companies was viewed with skeptism. The same scam calling occured in the richest gold discovery in the world, Carlin and Battle Mountain trends in Nevada. IMO, history is repeating itself again in the SW desert and those who are patient and invest for the long term will make fortunes. The oil sand and Nevada companies went from penny scams to $$billions. Time will tell, Keep up the negative posts, the stocks may get cheaper (g) Ron, still buying the DDs and other mining stocks