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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM
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To: Richard Mazzarella who wrote (7355)2/27/1999 10:52:00 AM
From: Alan Vennix  Read Replies (1) of 11603
 
Richard, thanks for the summary of your conversation with Mr. Runyon. One of your comments was:

<<However, Maxam is due COC splits......>>

Does this mean that Maxam does not yet have the splits, even a week plus since the drilling, or am I reading too much into your phraseology?

Thanks,

Alan

PS. RE: Tim's comment on only the assay labs and drillers being the current recipients of Maxam shares in exchange for work performed - I believe a number of consultants over the past months have been paid off in shares. Some of them might need/want cash at this time rather than waiting for a larger cash payoff in the future. The 500k shares represented about $90,000 if I have my decimals right (maybe Chuckau could check my math-VBG). Bringing up some past history, I seem to recall that Dale's daughter and son-in-law were needing to cash in shares a year or so back to fund their relocation to PHX; maybe they had a payment coming due - which wouldn't technically be "Maxam" cashing in shares. They probably have several million shares in their name so selling a half mill cheap wouldn't be that big a deal, although, if it was them, I'm sure they would have preferred to hold on to them for a bigger payoff in the future.
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