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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM
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To: Richard Mazzarella who wrote (5803)9/28/1998 4:09:00 PM
From: GlobalMarine  Read Replies (1) of 11603
 
You "partially answered" my question by saying that a 20-pound leach test is proof that the recovery method works. Get real, Richard. If that were true, all Maxam has to do is submit the 20-pound leach test results to bankers and they'll provide $20 million in funding, right?

Note that the company has already had discussions with various funding sources, and none of them have forked over the millions of dollars that Maxam is looking for yet. Why is that? IMO, it's because the company has to first prove that there is gold in the ground AND MORE IMPORTANTLY THAT THE COMPANY CAN PROVE THEY CAN RECOVER THE GOLD IN THE GROUND. The pilot plant was built to prove recovery but since said plant was shelved after the first test failed, IMO it means to me the recovery process doesn't work (not on normal gold grades, anyway). The company's plan now seems to be to find high-grade zones so that ANY recovery process, even Maxam's, may work.
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