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

To: Richard Mazzarella who wrote (3145)	11/26/1997 2:09:00 AM
From: GlobalMarine	Respond to of 11603

I'm afraid we'll all have to wait until Q2 to see THE demonstration of economic recovery. It would be nice to see Maxam completely drill out Peoria 7 and South via reverse-circulation to get the most accurate and complete proven and probable reserves, but I think that will have to wait until they're in positive cash flow so they can afford it. On a positive ending note, the fact that today's press release reiterates the previously-released projected production costs per ounce of gold suggests that the company and its consultants have not changed their opinion of the economics of the recovery process. This is good news because it means we needn't worry - at least for today - that Maxam has turned into IPM Part Deux.

To: Richard Mazzarella who wrote (3145)	11/26/1997 2:27:00 AM
From: Steve Huskey	Read Replies (1) \| Respond to of 11603

I agree with what you said, but the production schedule bothers me even more now. Wasn't the reason for the delay that they needed the permits? Now that's not a problem so what is the REAL reason for the delay? I wish I lived close to the mine so I could see for myself. If it's really still going to be April before they go into production, then methinks I should trade the volatility in the stock price that (hopefully) will occur till then. Steve