<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>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               DEC-31-1997
<CASH>                                         668,000
<SECURITIES>                                         0
<RECEIVABLES>                                  668,000
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             1,336,000
<PP&E>                                       1,508,000
<DEPRECIATION>                                 235,000
<TOTAL-ASSETS>                              40,371,000
<CURRENT-LIABILITIES>                        3,538,000
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                  (36,722,000)
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                40,371,000
<SALES>                                              0
<TOTAL-REVENUES>                                     0
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                             3,297,000
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              40,000
<INCOME-PRETAX>                            (4,840,000)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (4,840,000)
<EPS-PRIMARY>                                    (.27)
<EPS-DILUTED>                                    (.27)