Maxam Gold Corp. OBB:MXAM Message Board

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

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To: Chuca Marsh who wrote (6706)	11/29/1998 8:52:00 AM
From: Richard Mazzarella	Read Replies (2) of 11603

Chuca, <<The IPM .09 OPT Gold, is JUST NOT economic>> I don't believe that. What is the average grade for all the worlds gold mines? I remember something ~0.03 OPT? IMO the issue is adequate reserves and an economically feasible method for extraction. The current COC at the higher paleo-channel mapped grades is to prove the mapping technology which then allows Maxam to maximize early their profits for minimal cost. IMO Maxam can economically extract grades <0.04 OPT, but why not go for the >0.50 OPT for the same effort. More than ten times the profit for the same work makes sense. The technology also allows an adequate reserve determination (9 year minable) for minimal cost. Maxam has potential investors sitting in the wings if they can show large reserves at <0.02 OPT which can be economically extracted. Remember that we are talking head ore here, sieving concentrates the head ore 3-4/1 which allows for improved extraction economics. Blue is nice. <VBG>

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