MXR MAXIMUM RESOURCES INC. (VSE:MXR) UP? Message Board

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Gold/Mining/Energy : MXR MAXIMUM RESOURCES INC. (VSE:MXR) UP?

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To: Klaus who wrote (108)	3/15/1997 12:14:00 PM
From: James Berg	of 751

NPA is unrelated to the other companies. MXR just signed an option to acquire 20% of the Mina Claudia project. Other partners are NPEC (20%) and LFOC (60%). NPEC has done much of the leg-work in acquiring the Mina Claudia project claims and was given 5 million shares of LFOC in compensation. This represents about 45% ownership of LFOC. LFOC bought out a previously listed NASDAQ NMS company and as a result is able to begin trading much faster than if they did an IPO. They will have about 11.2 million shares outstanding with all but 350,000 or so shares held by either NPEC or insiders. With such a small float, it is likely to take off as well. MXR has much fewer shares outstanding than NPEC, but NPEC has a much broader portfolio of projects and the 5 million shares of LFOC. NPEC also has cash flow from their 15% interest in an Equador oil property of an estimated $500,000 a month. To my knowledge, MXR does not yet have a significant source of cash other than by issueing debt or equity. My positions: NPA 21,500 shares; MXR 25,000 shares; NPEC 74,000 shares, all long positions. --James

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