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

To: Bruce McGaughey who wrote (32230)	5/17/1998 1:05:00 PM
From: knight	Respond to of 35569

Bruce, thanks for the recap. Nice to have a refresher once in awhile. Hopefully that answered some of Doug's questions. I still maintain that Runyon was the big winner on the BRX, being the vendor of the property. It continues to be in his best interests to keep the interest alive in the property. Now he has the added bonus of being the vendor of the extraction process. While all this is fine and gives us some glimmer of a hope, IPM is still faced with the financing and regulatory problems.

To: Bruce McGaughey who wrote (32230)	5/17/1998 2:20:00 PM
From: Larry Brubaker	Respond to of 35569

Bruce: Nice recap, but a couple of comments. Saying that IPM doesn't have much money is a bit of an understatement. Not only do they not have much money, the owe much more to others than the little money they have. And actually, if you look at Maxam's 10/23 SEC filing, they are in the same situation. At least in Maxam's case, their debt is to Phoenix, who is probably more likely to lend Maxam more money (if they have it) then force Maxam into bankruptcy.

To: Bruce McGaughey who wrote (32230)	5/17/1998 2:50:00 PM
From: Richard Mazzarella	Read Replies (2) \| Respond to of 35569

Bruce, thanks, useful background. <<IPM made a deal with MXAM, purchasing the remainder of the BRX property.>> IPM made the deal with Phoenix, a private company were Runyon is a principal. Larry, Runyon through Phoenix has too big a stake in IPM to let BRX fail IMO. It will be interesting to see what this new funding that Runyon is cooking up to fund the Maxam mines. The change in planning for Maxam has me believe that there may be new financial interests nosing around, just a guess. Even IPM as a LLC to Maxam is a wild ass guess possibility.