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

To: Ronald W.Millar who wrote (729)	11/14/1998 11:23:00 AM
From: Traveling Man	Respond to of 835

Ron, I hope your attempts are more fruitful,too. A company management who ignores the companies owners usually is doing so because they have nothing positive to say. I am of the opinion,regretably,that I have permanently lost about 95% of my small investment here. Anytime I hear that management is avoiding shareholders in one of these speculations,I know it's "turn out the lights,the parties over". They are all long shots. Where I think these guys made a critical mistake was when they allowed their considerable cash reserves of early 97(about $30 mil.)to be squandered on what? They already had the Hinoba-An and Indonesian properties. With POG so low and Indonesia's stability so questionable, seems they could have preserved at least their one proven asset. Oh well,it's not the first microcap I've been wrong on. May be the last. TM

To: Ronald W.Millar who wrote (729)	11/15/1998 1:48:00 AM
From: Ron Everest	Read Replies (1) \| Respond to of 835

I still believe in this company. The problem is with the "new IR" person who doesn't return calls and they have cancelled their 800 number. Sally Burton was great but moved to MGAC.U IR job with Bill Burton, her husband. Then, Dattels appointed his private secretary to do the IR work and she knows squat about IPJ operations. IPJ has basically mothballed their operations IMO until the price of Au improves and the Indo situation stabilizes. They do have a good resource in Hinoba-an and I believe a better resource in the Mahakams. They are trying to JV out the Mahakams but that is probably futile for now in light of the political and economic instability in Indonesia. Right now it appears that the market is assigning value to the cash only. Best regards, Ron E