Maxam Gold Corp. OBB:MXAM Message Board

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

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To: GlobalMarine who wrote (5524)	8/29/1998 8:29:00 AM
From: Richard Mazzarella	Read Replies (1) of 11603

Rand, before I begin to comment on the technical issues you raised, I want to apologize for my personal attacks. I'm almost as frustrated as you lately with the stock price and recent company backsliding, but I try to keep it in perspective. My story for investing here at the end of the day is the dirt, it's always been the dirt. I have used this weakness to buy more stock and average down. When the stock was $1 I remember people lamenting that it was too bad that they didn't buy when it was lower. Well, hello, it's now lower; buy low, sell high? <<20 pound leach tests on ore with known fire assay results.>> I know they are well into the 20lb leach tests, waiting for results in the next few weeks. I'm not sure about the fire assays other than relate something Runyon told me recently. A couple of months ago Runyon told me that he was abandoning fire assays because they were expensive and that leach testing was more efficient and closer to the recovery testing they needed. However a week ago he said that they were going to continue fire assays in addition to leach and recovery tests. When I questioned him about his inconsistent statements he said that they realized that the mining industry demands continued fire assays. I suspect that the BLM and funding needs also encouraged that posture. <<they'll eventually proceed to larger scale testing with the pilot plant.>> Not sure that's the case. The 20lb leach tests are to help define the highest graded ore area on the property that would minimize the COC drilling cost and at the same time satisfy the BLM for permitting purposes and create the bankable resource for funding. The next step would be funding and plant design. I agree with you that the company needs to conduct some large bulk testing before finishing the plant to prove the process. As soon as Runyon comes back I'm going to question him about bulk testing and scalability.

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