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

To: Paunch who wrote (34118)	9/10/1998 9:44:00 AM
From: Zeev Hed	Respond to of 35569

Paunch, it is very difficult to admit that an investment has turned worthless (I know, I have one little one like that in GRNO), but the worst thing to do is to throw "good money" after "bad money". Yes, I do not own any shares in IPMCF, this is why it easier for me to look at the economics of "restarting" the company or starting anew. The "calculus" is very simple, if IPMCF has "hidden" assets that are not represented in its current price and are worth much more than what the bankruptcy court will offer IPM at, then, sure it is a good deal. But before you put money in this make sure that indeed there are such "hidden assets". I for one, do not think there are any such assets. The property is essentially not theirs, they have not developed a viable process, so what is there? Just accumulated debt, and a corporate shell that could possibly be used to raise new money. On the other hand, you must ask yourself if their are better returns for such new monies elsewhere in the DD arena (assuming, of course that this new money is in general DD plays money, otherwise, just by treasuries). Zeev

To: Paunch who wrote (34118)	9/10/1998 10:11:00 AM
From: ddl	Read Replies (2) \| Respond to of 35569

Paunch, that's most probably because those who have sold have "snapped" out of the dream, while those who still hold are in it. We're not against you, just trying to help you realize the reality of this situation. People have been talking about the "estranged" mineralization found in these DD for many many years. Multi-millions have been spent trying to develop these dirts and to date, can any of the DD show 1 lb of gold from 16 or 32 or 64 tons of ore? Saving IPM will only allow you the right to continue this exploration. Had they found the magic "box" then they would not be where they are today. They don't have it. Chances are very good that you can stake claims on other lands with the same potential as Black Rock, you just have to find the solution to the problem. Omega = Maxam. Why would Maxam save Black Rock. They sold it to IPM. They sold most of the DD properties to other DD Cos. Check what they kept cause I'm sure they did not sell the best lands. What they sold was DD in the hope that someone, anyone, would prove this age old mystery that started with David Hudson 20 years ago and has had people the likes of Joe Champion, Mervin White, Ray Steels, Groves, Blackman, maybe Furlong and whole wack of others trying to solve it. There's a sea of dubious fellows in this DD field (not meaning anyone mention herein) and you're swimming with the sharks. Many DD companies used to hand out Hudson's paper on "white powder gold", the "Elixir of Life"!!! Reports these DD get have to be totally scrutenized. The paper trail must be totally revealed because it's been proven many times before that these reports we are told about, somehow end up being partially supported by dubious believers of the DD syndrome. The're all trying to prove up a dream.

To: Paunch who wrote (34118)	9/10/1998 9:19:00 PM
From: Larry Brubaker	Respond to of 35569

<<Have you noticed on this thread how all of the posters that have shares of IPM are trying to find a way to save their investment and all of the posters that own no shares are saying let it go it is worthless.>> On the contrary. I'm suggesting if you believe there is value to the Black Rock property, you will spend less money to realize a greater portion of the value by buying the rights to the property directly from Phoenix/Omega, rather than by resurrecting IPM. If you resurrect IPM, you have to carry the existing 25 million shares, AND IPM's debts with you. You would not have full ownership to the rights of the property because the owners of the existing 25 million shares would have equal rights. Consider the following scenarios for raising $2 million. IPM issues 10 million new shares at 20 cents per share to raise $2 million. Under this scenario, the new investors putting up the $2 million would only own 28% of the company. Existing shareholders (whether they participate in the financing or not) would own 72%. IPM issues 25 million new shares at 8 cents per share to raise $2 million. The new investors would own ~50% of IPM. Existing investors would still own 50% of the company. IPM issues 200 million new shares at .01 to raise $2 million. The new investors would own 88% of IPM. Existing shareholders would still own 12%. While the new investors would now own a substantial majority of the company, your existing shares become almost worthless because they represent such a small proportion of the company. So, in order to retain a value to your existing shares, you gain less control over the ownership of the company. In order to gain control over the ownership of the company, you have to realize your existing shares are worthless. Alternatively, you could offer to buyout all of the existing shares for say, 5 cents per share. But that would cost you $1.25 million to acquire full control over the property. You would still need to pay off IPM's debts, and spend money to explore the property. It would seem to be much cheaper to allow IPM to go bankrupt and negotiate with Phoenix/Omega to acquire rights to the property. Comprende?