Maxam Gold Corp. OBB:MXAM Message Board

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

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To: Greg Ronan who wrote (5253)	8/14/1998 12:08:00 PM
From: Richard Mazzarella	Read Replies (1) of 11603

Greg, <<DONT HAVE ANY MONEY!>> My speculation, they don't have the money that they would have had if IPM was successful. Maxam would now be mining if IPM didn't fail IMO. The funding issue now forces Maxam to conduct a resource audit so that the lender has a bankable resource. A funding consultant told Mr. Runyon that funding will be readily available as soon as the resource audit is complete. The audit is conducted by independent consultants that specialize in banking resources. Mr. Runyon told me he is very confident of future high quality funding for Maxam mine development. One of the press releases says that Maxam has contracted Kilborn International to design and manage construction of the mine. It will just take Maxam a little longer than we originally thought before IPM's failure.

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