<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
INTERNATIONAL PRECIOUS METALS CORPORATION ANNUAL REPORT ON FORM 10-K FOR THE
YEAR ENDED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          MAR-31-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                         522,000
<SECURITIES>                                         0
<RECEIVABLES>                                  588,000
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             1,110,000
<PP&E>                                         874,000
<DEPRECIATION>                                  63,000
<TOTAL-ASSETS>                              40,162,000
<CURRENT-LIABILITIES>                        2,635,000
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                  (37,426,000)
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                40,162,000
<SALES>                                              0
<TOTAL-REVENUES>                                     0
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               621,000
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               3,000
<INCOME-PRETAX>                              (687,000)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (687,000)
<EPS-PRIMARY>                                    (.03)
<EPS-DILUTED>                                    (.03)