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

To: bconard who wrote (8677)	6/24/1999 7:57:00 AM
From: Richard Mazzarella	Respond to of 11603

Bob, <<addition of the water is a 'risky' plan>> My understanding is that everything including the water is saved. However, it seems that COC with the desert dirts brings risk. Every company over the last few years has had one problem or the other doing COC, seems to be the kiss of death, maybe an old miners curse? The problem with conventional drilling as I understand it is the limited ore recovered. The statistical nature of an alluvial deposit (see Maxam's technical section) would best be served by large volumes of ore. If I had my druthers, I would like the company to do COC trenching with recovery testing as assays. Then they are assaying with a meaningful practice that is closest to mining. IMO second best would just be COC conventional drilling with SAF (drill 3-5 close holes/location, average the result). With enough money available recovery testing could be done separately.