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 (3456)	1/15/1998 3:54:00 PM
From: GlobalMarine	Read Replies (2) of 11603

<<Maxam is also kind of regrouping. After all of the stories about operating a mine on five acres, we are now learning about additional BLM permits and state water permits or the lack thereof. They have lots of equipment in place and will start up this spring. Ask me again in May about this one.>> Richard, Maxam HAS the permits to mine on a five-acre exemption. Mining companies also need to get a BLM permit for every new piece of equipment and stuff they bring to a mining site, but that's different from mining permits per se. Maxam doesn't want to mine on a five-acre exemption forever, as they want to expland production over time (to 10,000 tons a day, according to the web site). Hence, they will be applying to BLM for permits to go beyond the five acre exemption. This requires time, effort and paperwork, but doesn't affect the current five-acre mining exemption. Maxam has its water permits already. They've drilled a water well on their property and have all the water they need. I don't know whether the well can support 10,000 tons production a day, but I have a feeling there's enough water in the aquifer to do whatever they want.

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