What? Why no news? The date has past and folks are at 9 cents? I am holding still. Some. maybe an OPP...hell with the Opportunities, we need the Banker to make THE deal.
OTC BB: MXAM
Management Technical Update
Maxam Gold's 6+ million ounces of gold equivalent resource is currently valued by the markets at less than 70 cents per ounce!!
CORPORATE BACKGROUND
Maxam Gold Corporation was formed on August 7, 1974. In 1987, the present management team acquired the company, and in 1995, the name was changed to Maxam Gold Corp.
Management owns 8% of the outstanding stock. A further 35% is owned by Phoenix International Mining, Inc., a private entity controlled by a Maxam
officer.
Maxam has set aside 56 of its unpatented mining claims for 10 mine sites targeted for production by December 2006. All Maxam claims (8,960 acres) are on lands administered by the United States Bureau of Land Management in southwest Arizona.
Maxam's core assets, the Peoria 7 and Peoria South elluvial gold projects, host a gold-equivalent resource of over six million ounces. The ore reserves have been calculated by traditional industry practices, and are based on thousands of fire assays (performed by registered labs, including: Activation Labs, Skyline, XRAL, Jacobs Assay Office and Ledoux & Company) from extensive drilling, trenching and bulk sampling of the deposits.
Maxam Gold is ready to contract for the final design and engineering stages for this project, and anticipates initial production from Peoria 7 within 18 months, after funding
CORPORATE FINANCIALS
Shares Authorized: 100,000,000 52-week high: US$0.60
Shares Issued: Approximately 53,000,000 52-week low: US$0.0625
Public Float: Approximately 20,000,000 Current bid/ask: US$0.15 -
US$0.18
Market Capitalization $9,540,000
Chucka |
