For the moment lets play detectives and try to connect the dots ourselves with we know or observed as follows:
(1) Maxam's March 6, 2006 Press Release
Completed on time and within budget, the Xcentia/Maxam laboratory, located in Vancouver, British Columbia, Canada, became fully operational on November 30, 2005. From early December to date, Ish Grewal, Xcentia's Metallurgical Process Engineer, successfully performed approximately 12 metal leaching /metal extraction test sequences on representative coal ash samples. This testing not only accomplished the new lab prove-out for coal ash but also provided baseline results for the two interested companies; one a large U.S. metals producer and the other a large U.S. power producer. The plan for the next phase will see a similar test program for gold ore and precious metal samples being provided to Xcentia/Maxam by mining companies interested in using the Xcentia/Maxam extraction process.
(2) Maxam's April 2006 Press Release
Maxam Gold Corporation President and CEO Richard G. Steeves today announced that Maxam Gold Corporation (Maxam) will be performing gold ore extraction tests on its inventory of gold ore samples. The gold ore samples were taken from Maxam's Arizona gold claim properties. Performing these tests will be Mr. Ish Grewal, Metallurgical Process Engineer at the Vancouver, British Columbia lab facility. The initial gold ore testing was conducted at Maxam's Arizona lab over a several year period.
The gold ore testing at the new Vancouver lab facility will not only serve to bring all Maxam's gold ore data up to date, but more importantly, Maxam expects improved accuracy and confidence will result by performing these tests at the new state of the art Vancouver laboratory. The lab is currently performing a series of tests on coal fly ash. Once current tests are complete, the Maxam ore tests can begin.
(3) March 5 thru March 14, 2007 a few investors on this board begin talking about a Joint Venture between Maxam and a Third Party. Leading to a discussion about funding a new drilling program for verification of Maxam's precious metal claims.
(4) Discussion about funding & JV seems to just end ???
(5) Maxam's Sept. 25, 2007 Press Release
President Richard G. Steeves is pleased to announce that the company has begun work on an 8 week exploration and chain-of-custody assay testing program at its Coyote Peak claim property in Western Arizona. Coyote Peak was selected as the initial site based on past gold concentration data for this area.
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OK, now we have some information about what may have transpired. Let's summarize:
(A) At the end of 2005, A lab/testing facility was built in Canada and Maxam is to send previously taken samples to the new lab in order to update test already done a few years ago. If the samples were sent in 2006, what did they find?
(B) In 2007 There is talk about a possible JV & verifying Maxam's precious metal claims. What needs to be verified and why?
(C) Ten days ago Maxam declares that it is doing an exploration & COC assay testing program on it's Coyote Peak claim which was selected based on past gold concentration data.
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Let's see if we can come to some sort of conclusion:
(a)Samples were sent to Canada and tested.
(b)Gold and/or PGMs were found in commercial quantities and
someone (JV Partner ???)required new COC sample testing be
done.
(c)Funding will finally be available.
(d)Maxam will finally become a precious metals producer.
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Any Sherlock Holmes out there? What would he deduce???? |
