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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM
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To: Char who wrote (8357)5/16/1999 7:02:00 AM
From: Richard Mazzarella  Read Replies (1) of 11603
 
Char, <<not dependent on the COC>> That's good news because I think that the sample collection methods of Becker drilling minimized the gold. What's nice is that even with that problem there are still enough other COC metals to show profit mining at Peoria. IMO the equivalent COC OPT reports are significantly understated. If I was doing due dilly to fund the mining, I would like to see 20lb recovery test results, not just stuff done in test tubes.
<<money is coming from overseas>> That would normally scare the shit out of me if the funding was tied to a PP. <VBG> However, a JV for the production suggests another picture, a very positive one. I am speculating here, but from what Runyon has previously told me about it being easier to get funding for PGMs than gold plus some other observations, I think that the real JV interest is the PGMs. I have been watching Stillwater stock continue to appreciate way beyond P/E sensibility even after a stock split. We have also seen wild PGM pricing moves. There are rumors of Russia not being able to deliver the necessary Pd for emissions systems requirements. Putting that all together fuels my speculation on the PGM focus. Having gone through all this speculation mumbo jumbo, I still like the mining aspects of gold, it's simpler recovery technology that even I can understand and I like the color. <VBG> While PGM recovery is a concern for me I have to tell you what Runyon has previously told me (paraphrased), "our process recovers the PGMs as easily as gold". I still want to see recovery tests. I bet the funding source may too.
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