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

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To: GlobalMarine who wrote (5423)	8/23/1998 8:55:00 PM
From: Mellofellow	Read Replies (1) of 11603

Over the last year or so Hewlett, Maxam's expert on ore reserves has been publishing tons of data on values and ore reserves....The recent posts by MAXAM lead me to believe they are no longer valid... If they are not valid, how can you expect the same person/method to hold up...was Hewlett guessing? Is there no credibility to these assay reserve numbers?..Just after the AGM meeting Hewlett gave out a press release that the reserves were now upped by 49%..What did he use a crystal ball? ....You don't need to be validating your high grade reserves when you can't prove you have any reserves..The process is expensive and time consuming...If one had the ore, the time and expense is of no consequence..the numbers previously published by Hewlett would have made MAXAM a winner immediately....This is where the problem is....Runyon could take 3 independent Geologists that know their business and call the shot on the MAXAM dd's in about one week. What I mean is that the could at least tell if there was any material on site to mine.. The big question is how do you think Hewlett is going turn around, what he obviously screwed up, into a positive thing for MAXAM.. Melo..

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