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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
[ ] Form 10-K [ ] Form 20-F [ ] Form 11-K [ X ] Form 10-Q [ ] Form N-SAR
For Period Ended: March 31, 1998
[ ] Transition Report of Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:__________________________________
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:_________________________
___________________
INTERNATIONAL PRECIOUS METALS CORPORATION
(Exact name of registrant as specified in its charter)
Ontario (Canada) 86-0766060
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
4633 South 36th Place 85040
Phoenix, Arizona (Zip Code)
(Address of principle executive office)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)
(a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or
expense:
(b) The subject annual report, semi-annual report, transition report
on Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof
will be filed on or before the fifteenth calendar day following
the prescribed due date; or the subject quarterly report or
transition report on Form 10-Q, or portion thereof will be filed
on or before the fifth calendar day following the prescribed due
date; and
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(c) The accountant's statement or other exhibit required by Rule
12b-25(C) has been attached if applicable.
State below in reasonable detail the reasons why Form 10-K, 20-F, 11-K, 10-Q,
N-SAR or the transition report or portion thereof could not be filed within the
prescribed time period:
The Company could not file this report without unreasonable effort or expense
because it has restructured it's internal organization and is in the process of
completing a financing which will fund the preparation of such reports.
(1) Name and telephone number of person to contact in regard to this
notification:
John A. Yellich, CEO (602) 414-1830
(2) Have all other periodic reports required under section 13 or 15(d) of
the Securities Exchange Act of 1934 or section 30 of the Investment
Company Act of 1940 during the preceding 12 months or for such shorter
period that the registrant was required to file such report(s) been
filed? If the answer is no, identify report(s).
[ X ] Yes [ ] No
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected
by the earnings statements to be included in the subject report or
portion thereof?
[ ] Yes [ X ] No
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and,, if appropriate, state the reasons why a
reasonable estimate of the results cannot be made.
INTERNATIONAL PRECIOUS METALS CORPORATION
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: 5/14/98 By: /s/ John A. Yellich
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John A. Yellich
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall by typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
