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

To: Larry Brubaker who wrote (32913)	6/13/1998 11:04:00 PM
From: Ron Struthers	Respond to of 35569

Larry, Posts may be retrievable but the problem is partial quotes that are so often used are slanted and don't provide a clear picture or opinion that was originally stated. In the examples you gave I did not say Institutions were buying, but does indicate they may be buyers. I talked with many of them at that time and still do today on occasion This is what I sent out in it's entirety on IPM on the 'Gray' Monday. Obvious it did not get posted or only parts of it RSA Update IPM ROH Volume 3 # 10.11 Nov 18 1997 Int Precious Metals IPMCF on Nasdaq I know many of you subscribe to this newsletter because of my coverage of IPM and the desert stocks. Yesterday was one of those days you would like to forget. Mining exploration stocks are very volatile and can drop like a rock in a day or gap way higher in a day. It has been a very difficult year in these stocks. It seems we just get a real winner like WTC and next thing you know you get killed on another as happened in IPM yesterday. The stock dropped to $3.125 on big volume of 1.2 million shares. The volume is a little misleading as a fair bit of this are the shorts trading back and forth stock. When the bids or buying did not show up at the open the shorts promptly took control of the market and had their day. The shorts were likely the biggest buyers today as they likely covered around 5 to 600,000 shares. A few 100,000 got salted away by strong buyers but there was little or no Institutional buying Where to from here? After today, I expect the volume to start drying up and be much harder for shorty to cover, however we need some better news to bring the buyers in the market. I believe Friday's news removed a lot of risk from the stock but it was not the kind of news to stimulate the big buyers. The major risk in the stock right now is no financing. I have a lot of confidence in managements ability to raise money but I don't think the market place does, considering todays poor market for mining exploration. IPM has an aggressive work schedule ahead of them and will need significant money to advance BRX. I doubt whether we will see any huge buying interest until the financing deal is announced as closed. Once we get this and possibly another good news item we could see some Institutions buying. The best news I have is this could happen anytime, but given IPMs track record to produce results I think the market is taking a show me first, attitude. Untill then the stock should drift around the $3 range as the shorts try to cover more while they can. A short squeeze is still a good posibilty if we can get this good news soon before shorty covers. If the shorts do get covered than at least we should have a less volatile stock price and more orderly market. It is alright if the above comments are posted to SI *********************************************** Some of you have contacted me what to do about margin positions. You can now appreciate why I do not recommend margin on any mining stocks unless options can be used to manage risk. If you are nervous about your position, checking the stock price several times through the day then I would say you are over exposed to this stock. ************************ Larry, I think these were pretty fair comments with the information available that day and clearly state that I believed there was no Institution buying. I don't know if this got posted to SI, most of the previous comments, where I indicated they could be posted were. Perhaps the IPM bulls did not like the update very well As we now know, the financing has not yet happened and there has been no big buyers or many small ones for that matter. Ron