Richard: Please explain how you "verified" this information? A phone call or e-mail to the company, is that your verification?
<< I verified that the 5.7MM gold reserve is still valid.>> Did you get your own drill and personally drill and assay? Since the BLM won't accept this 5.7MM gold reserve as being valid, and since the BLM is GOD to the mining industry, such reserve is invalid.
<< The process works.>>
How do you know? It's a new, secret, hush-hush, black box process. No new process works unless it's demonstrated to work, and there has yet to be such demonstration. And I don't mean a mickey-mouse 10 tons a day plant, either, which the company itself says is not meant to make money. And unless the process is disclosed, no one will invest $20 or $30 million on faith alone.
<< Recovery experiments are well underway.>>
If "the process works" why are "recovery experiments...well underway?" If the process works, you don't have to perform experiments, do you.
<< The issues of funding and permitting force a change in schedule and timing, not success IMO.>>
If no funding is forthcoming, there can be no success, for how can you build a mine without money? If BLM does not grant permits, you can't mine, period. RUnyon will have to convince people to pour in $20 to $30 million, and they'll have to convince BLM that they have a minable project. Hence, such issues do impact the likelihood of success.
<<I report this information that I reconfirmed today, but frankly hope nobody believes me.>>
I believe that you believe you "verified" the information. If all one needs to verify an ore body and recovery process is a phone call or e-mail, who needs an ore reserve audit or feasibility study?. Give funding sources and BLM the phone number or e-mail address, let them get the same verification you got, and lo and behold, we have $30 million and all our BLM permits. Simple.
The point I'm trying to make is that the mining business isn't as simple as you think. Maxam Gold is incapable on its own of designing, permitting, building and running its own mine, because such a venture is too big and complex to go it alone, particularly for a dinky little OTC-BB company. Look at junior upstart hard rock mining companies. All they do is discover the ore body. They raise $$ to build a mine but they don't build it themselves. They hiring a mining engineering firm to build it for them. Even Runyon agreed with me that no one is going to give Maxam GOld $20 or $30 million directly; it'll be given to a mining engineering firm to build and run the mine. Financing sources can trust, say, Kilborn, but no one will trust a dinky little OTC-BB company with $20 or $30 million directly.
The big picture questions are these...What does the company have to accomplish to raise $500,000 for an ore reserve audit and feasibility study? What does the company have to accomplish to raise $20 or $30 million to design and build a mine? Whoever has this money will want more verification and reconfirmation than a simple phone call or e-mail to Runyon, that's for sure. |
