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

To: Richard Mazzarella who wrote (32228)	5/17/1998 12:21:00 PM
From: Mike Laine	Respond to of 35569

Hello Richard, Not dead here....just leary. I still hold the stock. I am mildly excited about the PGM finds on Platinum. When I saw the viles of Platinum at the AGM I was concerned that there was so little said about it. Gold was foremost on everyone's mind. I liked and still like the Platinum play. Now we have a glimmer of hope.....but it's from another company. I live in CA and this weekend thought I'd take a ride just to see if there was still furniture in the IPM office. We haven't heard much from them. Saturday morning at about 7:00 I peeked in the window and saw a green light on the computer at the receptionists's desk. There were the IPM banners from the AGM and a fax machine taking calls. Sometimes it's just the personal experience that puts me back in the relax and wait mode. It was a beautiful ride through the desert if nothing else. We're still in the picture. Mike Laine

To: Richard Mazzarella who wrote (32228)	5/17/1998 12:37:00 PM
From: Bruce McGaughey	Read Replies (3) \| Respond to of 35569

Good post, Richard. Someone asked if there was any connection between MXAM and IPM. Maybe we're seeing the next generation of IPM investors coming forward. Yes, there is a connection between the two. Runyon (MXAM) met Allen Doyle (IPM) and ex-CEO Lee Furlong at a gold show some years back. Furlong and Doyle were looking for a platinum property. Runyon sold them on taking his BRX property in Arizona. IPM confirmed the existence of metals on the property using modern lab methods and then drilled the heck out of the property. They recently confirmed the existence of metals with a COC, although it was very low compared to what we were all expecting. No recovery process proved economical although the shareholders were told of some of the successes. We knew nothing of the failures. Just recently, IPM made a deal with MXAM, purchasing the remainder of the BRX property. IPM has very little assets left. The only thing IPM has left is an arrangement with Bateman to find a new recovery process. If IPM can't pay Bateman and Bateman leaves, IPM will probably be forced to strike a deal with Runyon and MXAM to use their process. That may be the reason why Runyon decided to begin the "recovery for hire" plant. Obviously, he's pretty confident about the Hewlett process. IPM needs a couple of things now. More money, a recovery method from Bateman, and more money. The news from the MXAM AGM is interesting. First, it's a true chain of custody. Second, the platinum numbers were what we were expecting from IPM, originally. There are metals out there in the wash basins of the Arizona mountains. The question is which company will raise the capital, find an economical recovery process, and survive the political obstacles necessary to mine the stuff at a profit. No single company will do this all alone. At some point, a major will come in to do a joint venture or a buy-out. To my mind, MXAM now looks like the better bet of what's out there. They have a process (ready to go to production) they have a plan, they have money, and they have over 70,000 acres staked and (presumably) ready to sell to the highest bidder. IPM has BRX, an exhaustive catalogue of drilling samples from BRX, a contract with Bateman, and not much money. In my humble opinion, that's where we're at now and that's the MXAM/IPM connection as I understand it. If I'm inaccurate or just wrong, let me know.