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

To: Tim Hall who wrote (34104)	9/9/1998 11:30:00 PM
From: d:oug	Respond to of 35569

Tim, can I jump ahead and over the important question you asked ? For this post and reply, lets assume two things. (1) the dirt has extractionable at profit precious metals now (2) big money will knock on the door asking to be let in Lets say that IPM did go chapter 7 and gone forever, and lets also say noone picked up the rights to black rock dirt, and this includes whoever has it now does not want it and noone asked to buy the rights. Now its later, and even tho (1) above is true, and (2) would happen, I remember Zeev and others saying that to start a brand new compnay and put it onto an exchange is expensive and lots of paper work. So, I'am wondering if saving the IPM shell is worthwhile, if it comes with the ability to quickly get back on CDN. For this example I still see new money from current shareholders being required, and those shareholders that add no new money results with big dilutions, where the new money buy "better" shares. Guess I'am still on Paunch's initial post of 10 am wednesday, but keep the IPM company going, and only the new money folks result in any value continuation. Richard's post to Paunch's post is somewhat copied as follows: <<< What you are describing is just letting existing shares become worthless and starting a brand new company. I can buy desert dirt at a considerable discount by buying more MXAM. >>> Another of Richards post has the following: <<< check into the possibility of one of the other dirts taking IPM in under their wing as an LLC with the LLC having its own shares, current IPM shares of course. The selling of gold certificates from production to save IPM >>> What do the letters LLC stand for ? Thanks Doug, who still does not know what the bell is happening

To: Tim Hall who wrote (34104)	9/9/1998 11:54:00 PM
From: d:oug	Respond to of 35569

Tim, I just remembered Richard's point being why put x cents a share into an IPM save when for the same money buy into Maxam Gold now. Guess the bottom line is that its hard to swallow the fact that as of this moment all investments in IPM are lost, and to put new money into an IPM save rather than Maxam or another company has to be a decision to be made. Boy, feelings in my head abound. Would really like to see IPM continue, and like to see some directors on the board from this thread that got us to this point. Richard's comments about the type have good merit, but the situation that got us here is very much not ordinary, and the last board was like all mining technology strong, and strongly failed us. At this point, seeing where we came from and who stepped up to become active, and knowing that there is the ability for them to communicate with lots of others doing this mining stuff, then I see me voting strongly for any next directors as the same as mentioned Chuck, Robert, Paunch and Ally. Rather be safe than sorry. Kinda like Pauch said, need people that have showned their hand open with no guessing required. And anyway, with Pauch's initial post, even if John Yellich was not a director, his very big expertise would be tapped very much so. Real world time.

To: Tim Hall who wrote (34104)	9/10/1998 4:47:00 AM
From: d:oug	Read Replies (1) \| Respond to of 35569

Tim, lets say the possible that Paunch mentioned happened. IPM goes into chapter 7, and the court then liquidates the properties of IPM when all money received to pay off debts. At this point all ipmcf shares worthless forever. Who at this point owns the rights to mine the Black Rock dirt. Are the rights part of IPM's property and anyone can bid for them. Or are the rights transfered back to Omega automatically for an already set amount of money. If true that Omega can gets the rights to the dirt without biding, then if IPM goes into chapter 7 its all over for ipmcf shareholders. If the only way current ipmcf shareholders that pledged their shares AND willing to input new money can keep their hands on the mining rights to the dirt is to not let IPM go into chapter 7, and this means to keep the IPM company continuing, then this means the shareholders have to pay off the debt. So, I'am guessing that to try and not pay the IPM debt means to let the IPM company bite the dust in chapter 7, and to me I will bet that this guarantees the rights to mine Black Rock will not be up for bid in the courts, but will go to Omega for easy money, and Omega will quickly pay up for it. So to all those that say, don't pay off IPM's debt, or don't keep the company IPM continuing, I say if we do that, then all is lost. Now if someone can tell me above is not true because ....., then ok, lets get the rights to Black Rock dirt and do something like that long ago "group of 8" did, and we got good dirt and whatever that means. Or if dirt rights are easily obtained with paying off debt, then maby the "group of 8" would want to absorb us. So, anyone suggesting not paying off the IPM debt either wants us to follow their advice so we loose all, or they don't know the facts that dictate how events unfold if done that way, and if so and if we did, then they will say "hey, I was only trying to help, and the final decision was yours, and you should have done better research and not just take my advice at face value". No chit. Doug

To: Tim Hall who wrote (34104)	9/10/1998 7:21:00 AM
From: go4it	Read Replies (1) \| Respond to of 35569

Tim, If I may jump in for a moment. There are several ways to prove a property as viable. All of which include the basics. Find the mineralization define the mineralization map it determine content, specific locations and chemistry determine chemistry determine extraction determine scaleability perform feasibilities OR turn it over to someone who knows what the hell they are doing. Statement of Dr. Roshan B. Bhappu March 6, 1998 The Evolution of Precious Metal mineral development in the free world. The evolution of the Precious Metal mining industry has historically responded to the price cycles of the respective metal. The Exploration for new deposits is on-going, and mining companies look for similar and new geologic environments to develop prospects for economic development. The precious metal market is a volatile business and responds to world economic demands. The current downturn of the gold market has changed the business climate for numerous companies. Many companies who, in early 1997, were exploring for gold and other precious metal deposits, have announced massive layoffs and/or a shutdown of existing operations. All this change is in response to the world economy as reflected in the downturn in the price of gold, industrial production and the demand for other metals, i.e. the Asian market. Forward thinking mining companies know that, to survive in the metal mining business you must be looking at developing deposits that are more insulated from the likes of the current downturn in the gold and other metal markets. They will explore in new geographic areas, look for new geologic environments in the U.S. and free world, and evaluate new technologies for reducing operating costs which will recover economic values from grades that are lower than what some industry "experts" would admit could be possible. Some companies may take a more negative approach and shut down marginal operations, waiting for the price to rebound. I have seen the precious and base metal market go through numerous cycles during the last 40 years. The successful companies today do not wait for someone else to identify new geologic environments, develop a technology or cost reducing process. I have worked on many projects and assisted with the development of new technologies in the metal mining industry during this period. As near as 25 years ago, I presented a paper that projected the mining and economic recovery of one (1) gram per ton (0.029 oz. per ton) gold in the next decade. Many professionals in the industry scoffed at this projection, however, I was instrumental in the development of a new technology that allowed this to occur. The successful mining companies of today continue to be forward thinking and conduct research and development (R&D) on existing and new geologic environments. Many of these companies are large producers and, as a result, there is little information in the public about their successes and failures. I have provided a summary table (Exhibit 1) which outlines many of the developments in the precious metal industry during the past 30+ years. The companies I have identified are some of those that will survive the economic fluctuations of the metal price cycles. The Black Rock Property of International Precious Metals represents a property that may have a chance for success. Precious metals are present in a new geologic environment. We have seen them via a number of testing programs and are now recognizing that a mineral potential may be identified in the near future. Significant work has been completed to date, however, there is significant research that still needs to be completed before this prospect can be held up as a viable project. The future development of this property will only be because this company is allowed to continue to evaluate this potential. Also attached to this Exhibit is a copy of a paper I published on these matters and my resume.