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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM
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To: Bruce McGaughey who wrote (3163)11/27/1997 4:07:00 PM
From: GlobalMarine  Read Replies (1) of 11603
 
Bruce: I'm not concerned about the private companies involved, provided the consideration is less than what the capitalized value of the PMs are. Dale Runyon has been hunting around for these desert dirt deposits longer than anyone else, and he naturally had to start out with a private company to stake or acquire the claims and raise funds to pay for them. Now that it appears viable to mine them, the claims are gradually being transferred to public companies to:

1) Raise funds for development; and

2) Capitalize the value of the properties and future earnings by drilling, fire assaying, calculating p and p reserves, and going into production.

The majors haven't staked DD land because they don't yet believe that PMs exist in such settings. But when Maxam goes into production and Naxos proves out the existence of massive grades of PMs at Franklin Lake, the tide will change and everyone will pour into the desert.
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