Maxam Gold Corp. OBB:MXAM Message Board

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

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To: Richard Mazzarella who wrote (5655)	9/15/1998 10:07:00 PM
From: Zeev Hed	Read Replies (1) of 11603

Richard, you got to explain this to me. MAXM state they have .084 oz/ton of gold. Fine. They also say it will cost something north of $120/oz (equivalent) to extract this, or about $12/ton. Do you really think that number is "believable" at such low concentration of gold (and silver, they have barely $4 of silver per ton and $24 of gold per ton. Assuming that they have "full recovery" $120/per ounce seems a little on the low side. Remember they are going to have to dig the stuff (cheap) leach (not that cheap) and then recover through a resin process (a lot of columns because of the low concentration) and finally, probably eluate or ash the resin (expensive). Process time with such low concentrations worries me. I am also worried by the fact that now MAXAM is already below CHIP. Zeev

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