Maxam Gold Corp. OBB:MXAM Message Board

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

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To: Larry Brubaker who wrote (5653)	9/14/1998 11:05:00 PM
From: GlobalMarine	Read Replies (3) of 11603

Larry: I share your concern. Where's the follow-through to these leach tests? OK, so gold showed up on these non-COC tests, now what? The press release suggests that the follow-through is not more leaching and proving out of a recovery process but now drilling? The previous press releases and Richard Mazz's own comments also suggest the same. If this is true, what the heck was the point of having done nine 20 -pound leach tests in the first place and then abandoning further leach tests in favor of poking holes in the ground? Again, more and more drilling only enhances shareholder value IF a recovery process has been demonstrated to work. Note that there has already been quite a lot of drilling and yet the stock price is at $0.06. Naxos did a lot of COC drilling and while its 1997 results are still valid, its stock price is down because they haven't demonstrated a recovery process. I'd much rather Maxam spend the money allocated to this 10 hole program on demonstrating a viable recovery method. Drilling and fire assaying doesn't matter unless you have a way of recovering the gold found by drilling and fire assaying.

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