Maxam Gold Corp. OBB:MXAM Message Board

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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM

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To: Donald Watson, Jr. who wrote (3137)	11/25/1997 8:10:00 PM
From: Alan Vennix	Read Replies (1) of 11603

I liked the PR and the high gold values - only problem is small tonnage identified to date. A look at the numbers: 1.453 MM tons @ 0.346 oz/t = ~500,000 oz Au Using a valuation of $50/oz and 45MM shares out (without exercise of warrants), ($50/oz) x (0.5 MM oz) / (45 MM shares) = 0.56 $/share. One could argue for a higher valuation for this concentration assayable gold, say $90/oz, which would increase per share value to $1. I hope they can identify more of these channels, and, of course, these evaluations don't consider other recoverable metals/minerals or other properties. Go Dale <g> Alan

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