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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM -- Ignore unavailable to you. Want to Upgrade?

To: Tim Hall who wrote (8673)	6/23/1999 3:47:00 PM
From: Richard Mazzarella	Read Replies (1) \| Respond to of 11603

Tim, maybe, maybe not. A little too simplistic IMO. The change of BLM rules and interpretation leave a lot to be desired. Hewlett isn't a new kid on the block when it comes to reserve determinations. Hewlett's Peoria Seven reserve calculations is the reason for the funding success. Someone's due dilly seems to have been satisfied. The only reason that the BLM may appear to have any outstanding issues is that Maxam didn't have the cash or resources to fight them in court over the BLM changes and interpretation. I understand it would have been a slam dunk for Maxam. Another day now and now another dollar. <VBG> I would be happy to see it go any way Maxam feels is in its best interests. A cooperative BLM is best, but we have seen others prevail over these bureaucrats before, it would warm my heart.