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

To: Tim Hall who wrote (32367)	5/23/1998 2:31:00 PM
From: Larry Brubaker	Read Replies (1) \| Respond to of 35569

Thall: They raised more than $1 million during the 1st quarter. It looks like they used these funds to pay for the $600,000 of operating costs, as well as pay off some of their working capital deficit. To continue to pay Bateman, they are going to either have to sell more shares, sell their MGAU shares, or both, IMO. Here's a Machievellian scenario for you. Maybe Bateman has known all along that IPM has good ore, but refused to sign off on the high OPT SFA or the recovery process in order to destroy the share price. Then, when shares are virtually worthless, they decide to JV with the company, getting a share of the assets for next to nothing. Then, they come up with a "breakthrough" and end up owning half of a very valuable resource for a song. Course we haven't seen the JV yet. Maybe they are waiting for a lower price?