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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM
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To: Ed Devlin who wrote (7978)4/15/1999 10:27:00 PM
From: Richard Mazzarella  Read Replies (2) of 11603
 
Ed, <<Ir figure to be worth something?>> I talked to Mr. Runyon about what he was placing value on. He knows he has a market for the PGMs Pd and Pt, but is uncertain about the other PGM elements. Also Hewlett originally worked up the cost at $16/ton, but Dale increased the cost for calculation purposes. I appreciate his conservative approach. Two drill hole don't make a mine. There is confusion on what the paleo-channel mapping is telling us and the impact of PGMs on standard fire assay for gold at the site. There is much more that needs to be learned.

PS, for anyone that doubts that Hewlett's recovery works, ask the attendees of the Maxam shareholder meeting 2 years ago. Each attendee was given an ounce of metals extracted from Peoria 7 ore. I occasionally handle it whenever I need to address any doubts.
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