Maxam Gold Corp. OBB:MXAM Message Board

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

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To: Ed Devlin who wrote (4412)	5/19/1998 12:08:00 AM
From: SnakeInATuxedo	Read Replies (1) of 11603

Once Mr. Runyon gets over his surprise at the Ir numbers, he needs to realise what an amazing position he and MXAM are in because of those numbers. Essentially, MXAM is now to iridium as deBeers is to diamonds, and he can sell that iridium into the market at whatever rate will maximise the profitability. Sure, right now iridium has a very small market, undoubtedly due to its relatively high price. Just the small bit of "surfing" I did this afternoon clearly indicates there are applications for iridium which would be feasible at a lower price, given the appearance of a larger, dependable supply. So, given the quantity of iridium which appears to be present in MXAM's dirt, which would you rather: sell 1000 ounces at $600 or 5000 ounces at $300? I'll let you do the math. [VBG] $^)

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