Maxam Gold Corp. OBB:MXAM Message Board

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

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To: Richard Mazzarella who wrote (3221)	12/1/1997 5:48:00 PM
From: Lee Bush	Read Replies (1) of 11603

Richard and all: Hope you had a nice Thanksgiving. I was out of town for a week, so just getting back on-line. If you recall, Richard, the goodies in MAXAM dirt are very small and tied to the feldspars. You can't handle this like any old placer gold deposit. The Nelson concentrator did not work because the stuff is too light to be centrifuged. Because of the volume of low-content ore, they have to work on-site. I see nothing unusual in their decisions. The process still has to be developed, but hopefully, they can produce a good number of metals with a clean effluent. MXAM is taking a middle-of-the-road approach, with IPM at one extreme and GPGI at the other. They are proving up reserves, but also looking to start production and expand once cash flow is achieved. This analysis of paleo-deposition patterns is very interesting. If you recall, the materials presented at the AGM showed that the general source of minerals was to the southeast. If they can identify these ancient placer deposits at relatively shallow depth, and screen the materials to raise the concentration of minerals, we could see some very nice results in my opinion. Lee

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