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 (5841)	10/1/1998 11:40:00 AM
From: BobS	Read Replies (1) of 11603

<< I guess that would be OK if its clear to the PP investors that their $300,000 to pay off IPM's "creditors" is really going to the pockets of Phoenix/Omega.>> Larry, I don't agree with this one either. I hadn't thought of this scenario, I think you're on to something. It could be the reason Maxam does purchase IPM. But what does this do for Maxam shareholders? It dilutes the stock with the PP and sends the PP money to a privately held entity owned by who? - by the CEO of Maxam. Basically, if this scenario actually happened it is merely a way for Runyon to obtain more money for his privately held Phoenix company via Maxam shareholders. It would be similar to a monetary shell game, with one winner - Runyon. [And possibly Maxam if the property/processes of IPM ever amount to anything financially - but again, that is unknown at this time]. bobs.

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