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 (3373)	12/16/1997 5:46:00 PM
From: Richard Mazzarella	Read Replies (2) of 11603

Rand, <<creator of this thread>> That doesn't give me any special understanding or skill with Maxam. I had hoped that we would see $3-6 this fall, but then the company had promised production in October. All along I have purposely keep my distance from Maxam to avoid loving it. Unfortunately I loved it from $0.10 to $3 and let a small fortune disappear with that affair, no more. Of all the dirt's, I believed that Maxam was the one dirt that we could trust in a sea of desert dirt hype and BS. IMO they played the IPM card as justification for their dirt. Like us, they lost. Why does Maxam have to mine anyway? Just to prove that their desert dirt can produce profit. IPM could have brought credibility to Maxam without any mining. Nature has a way of forcing people to work hard and Maxam will now have to live or die on its own merit. IMO there is no question about Hewlett being able to leach the precious metals from their dirt, the latest data demonstrates that success. There is no doubt that Maxam has MM oz of precious metals. There is no doubt that they control 70 sq. miles of potentially valuable desert dirt. The remaining issue is if the ion exchange resin portion of the mine will work and is economic. Mr. Runyon has told me he has no doubt about economic extraction, but he is only advancing his confidence in Hewlett. I was convinced of the credibility of Runyon, but we aren't in production, are we? We don't have any report of lab test results on the resins. The target for recovery of precious metals at the projected cost would make mining history. Does Maxam have that formula? Does it have to ability to do what the majors can't? One can easily make a case that Maxam is just a wanna-be land holding operation that will dick around for years with promises of production soon. However, IMO they have demonstrated more development work on their property than necessary if just a "stock game". I believe they are for real and are now working to make a demonstration mine. These stock prices will look ridiculously cheap if they pull it off. How can Runyon sell his stock so cheap into the face of such a sure thing? There is a saying that it takes 100 atta-boys to equal one aw-shit. Runyon's selling is that aw-shit. Something to ponder.

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