Maxam Gold Corp. OBB:MXAM Message Board

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

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To: Paul F. who wrote (3343)	12/11/1997 2:12:00 PM
From: Richard Mazzarella	Read Replies (2) of 11603

Paul, while it's not in my financial interest, I think that the stock trend is down and the fundamentals are hold or sell. We could go lower before going higher IMO. Look at GPGI. Maxam has lots of shares that could come on the market quickly and I don't know who would step up to buy. Everything at Maxam hinges on economic metal extraction. That hasn't been demonstrated and the announced numbers, while very good, haven't been COCed. This desert dirt market is now too skeptical a market for people to just gamble on anything they hear. Proof after IPM is now expected. If you have been following my comments on CHIP, I even doubt Naxos COC. It's that sour a desert dirt market. The general precious metals market doesn't help. I still believe in Maxam, but won't buy any more stock until they can announce or demonstrate things that will convince this market.

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