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

To: go4it who wrote (31805)	4/25/1998 10:53:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 35569

Charles, I think you have to separate two issues, the property and the company. It seems that the kind of property IPMCF has is not in shortage in AZ. Why, a group of SI posters are themselves staking chunk of land all over the desert. We know of MAXAM, USPS, GPGI and NAXOF all having piles and piles of land containing some goodies. There is really nothing particularly unique with the black rock chunk of land. What was unique, was the ability of management, at least for some time, to hold the stock up and raise a number of rounds of financing, based on a series of "good pronouncements". These all ended up on black Friday, when the hype died and the bitter reality that a process for extracting the goodies at such low concentration from such complex ores was not trivial, and possibly not economic. Whatever IPMCF does next, will require funding which they do not have. The total world production of gold is about 18 to 20 billions per year (correct me on this if I am wrong), you must assume that the DD will not capture anything close to 5% of that, at least not for the next 10 years, or about a billion bucks for all the DD (about what five of them?). So let say (generously) that IPMCF has a chance of 10% of that or about $100 MM (with a lot of if's between here and there, including the serious possibility that they do not survive), you may be looking at less than a dollar per shares in slaes with a great degree of uncertainty (they will have to raise oodles of money with oodles of stock and stock equivalent to get into any production, if a process is found and is economical). This is what I mean by looking at the numbers. I am not even talking about unknown and unresolved issues, such as who own the black rock, since the old agreement might have holes in it now that the shares do not cover the sales price, and that the original owners can find many good legal reasons to get out of the agreement (since IPMCF did not fulfill all its parts of the bargain). Sure, the stock might have a spike here and there, but a fundamental change to the better, is probably some long time in the future, and between here and there, I would not be surprised if todays' prices of about $.25/share would be looked at as excellent "bailing out" prices. Zeev

To: go4it who wrote (31805)	4/25/1998 11:11:00 PM
From: Richard Mazzarella	Read Replies (2) \| Respond to of 35569

Charles, anybody hear from Struthers since the shareholder's report? Jay Taylor hasn't updated his webpage since 4/4, did he check himself into a sanitarium? Zeev is shaking like an autumn leaf in spring and isn't even long the stock. The world will end soon for sure. <VBG>