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

To: Steve Huskey who wrote (3115)	11/24/1997 8:12:00 PM
From: Char	Read Replies (1) \| Respond to of 11603

Since MXAM never owned the IPM property, I don't see how they could get it back. The way I understand it the property was owned by Phoenix which is completely separate from MXAM. Since Dale Runyon is a principal in both companies I suppose a deal could be worked out. Then again maybe Phoenix would sell it to Bateman for development. Dave

To: Steve Huskey who wrote (3115)	11/24/1997 8:40:00 PM
From: GlobalMarine	Read Replies (1) \| Respond to of 11603

What's interesting about the IPM soap opera out is that when IPM first acquired the property years ago, because Phoenix Int'l Mining used Hewlett Mineral Management for consulting purposes, IPM didn't want to use the same for fear of a conflict of interest. Accordingly, IPM chose BD. So here we are now in 1997...Maxam has drilled, fire assayed, calculated proven and probable reserves, and is commencing production in a few months. IPM has just figured out how to to a fire assay, that's all. Perhaps IPM should hire Hewlett. Or maybe IPM will default on its obligation to buy the remaining share of Black Rock Basin, Phoenix will somehow get control of the property and sell to Maxam, who will proceed to use Hewlett to prove out the enitre Black Rock - Coyote Peak area. Stay tuned, folks. Regards, Rand