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 (5895)	10/8/1998 12:24:00 AM
From: GlobalMarine	Read Replies (1) of 11603

<<<I also got the OK to publicly explain what went wrong with the 500lb recovery test. >>> If it were the case that the COC ore sample was bad, why doesn't the company simply dig up a 600 pound sample from a known gold zone (e.g. where all those auger drill and RC drill hole results were), fire assay it to ensure it has good gold values, dust off the idle pilot plant and run this ore through it, and if the pilot plant works, the recovery grade should approximate or exceed the fire assay grade. This would answer a lot of questions and ,move the stock price. Instead, the company wants to spend money to drill more holes, which will do nothing for the stock price because past drilling hasn't helped. Something's not right here, and potential investors and financing sources are going to be asking much tougher questions than I have. If you think I'm being judgemental, what do you think an investment bank from which Maxam wants to obtain $25 million will be like?

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