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

To: GlobalMarine who wrote (3118)	11/25/1997 2:08:00 AM
From: Larry Brubaker	Respond to of 11603

Rand: I'm not sure Phoenix/Omega has the right to reaquire Black Rock from IPM. According to the description of the terms in the 10-K, the security for IPM's payment to Omega was 6 million+ shares of IPM, not the mining claims themselves. The value of that security is plummeting. Who knows, maybe some of the recent price drop in IPM is attributable to Phoenix/Omega selling their shares? May be their best strategy since it seems less and less likely that IPM will ever be able to come up with the $17 million payment.