Maxam Gold Corp. OBB:MXAM Message Board

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

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To: GlobalMarine who wrote (3186)	11/29/1997 5:22:00 PM
From: Larry Brubaker	Read Replies (2) of 11603

Rand: Even if IPM survives (which appears questionable to me), they will soon have a hell of a lot more shares outstanding than now, IMO. The first comment I made when I sold IPM was that I don't think they deserve a market cap larger than Maxam. I still believe this. Maxam does not owe a $17 million debt to Phoenix. Maxam has not destroyed the confidence of their investors. Maxam has all of the other things you mentioned in your post that IPM doesn't. This does not mean I think Maxam is necessarily undervalued. They have yet to fulfill their promises as well. However, even at the current price, I think IPM is still substantially overvalued.

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