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Gold/Mining/Energy : Int'l Pursuit (T.IPJ) -- Ignore unavailable to you. Want to Upgrade?

To: GlobalMarine who wrote (713)	6/14/1998 4:19:00 PM
From: Ron Everest	Respond to of 835

Rand I contacted Sally the IR last week and asked about the Minoro deal for Hinoba-an. She stated to me that the deal is still on and is waiting on completion of financing arrangements with Minoro. It would have been nice to receive more information but....guess we have to wait for a detailed news release. It figures that with the size of the deal $100 million US plus the $15 million US entry price to Minoro that their bankers will be doing a very thorough examination of Minoro, the deal and copper markets before committing. The US 56 cents manufacturing costs with Minoro as the operator is very encouraging to me and could carry the deal throught. The bankers will want to thoroughly examine the contents of the feasibility report. There is also the possibility that another company will show to take the Minoro position. If this deal is as good as it appears, US$15 million to a large operation is a small price to hold such a property. Wouldn't surprise me to see this scenario surface. Best regards, Ron E

To: GlobalMarine who wrote (713)	6/25/1998 6:45:00 PM
From: Ron Everest	Read Replies (1) \| Respond to of 835

Rand, We can expect a release of information tomorrow as tonight is the annual IPJ meeting. I talked with the Chairman of the Board of IPJ yesterday, a Mr. Ted Creber who stated that they would be covering off the Minoro deal, JV interest (from majors) in the Mahakams and more at the annual meeting. He also stated that they would be putting out a press release tomorrow covering the same information. On passing, I asked Mr. Creber what the staffing levels were in the Mahakams right now, and he responded with approx 35 with 4 ex pats. This corresponds to staffing levels for the past number of months. In that regard, I asked why we are not receiving any sampling assay reports. Goodness, with that many staff working month after month they must have thousands of samples and surely could relate some information to shareholders. If there is nothing to report then could one assume that they are not finding anything of value in the sampling program? I will answer that, of course they are finding value, just NOT REPORTING IT? Also, has he noticed that investor support is waning, could it be that "No News" of substance = Lack of Investor interest? I was pretty outspoken, and know he is getting the message. It would appear that there are interests taking advantange of the low interest in these type of stocks and perhaps are driving the price down. If it is just nervousness on the part of small holders of IPJ I sure wish they would get it over with so that the price can seek a proper value for the assets this company holds, like $4 plus. Beyond me why some stocks like BNO for instance can hold a higher value on the markets with seemingly fewer opportunities. Can anyone enlighten me on this thought? Best regards, Ron E