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

To: Larry Brubaker who wrote (3172)	11/28/1997 4:01:00 PM
From: Pullin-GS	Read Replies (1) \| Respond to of 11603

it appeared a Maxam insider used this opportunity That is the single most important reason I sold when I did....those large sells (IMO there were many) have caused more technical damage to MXAM than all of the IPM shinanagins (sp?) put together. I check out this thread several times a week just to keep up. Maybe someday the selling will stop. I have a feeling that it will stop when the family starts seeing income from production. Regards and best of luck, Paul PS: Does anyone follow BCMD? If so, would you care to share your thoughts?

To: Larry Brubaker who wrote (3172)	11/28/1997 11:20:00 PM
From: GlobalMarine	Read Replies (2) \| Respond to of 11603

Larry: I don't think that Maxam can do anything to confirm its claim of an economic recovery process until it so proves by going into actual production. Maxam already uses third-party consultants (Hewlett, Cooley and McGarvey) so bringing another in probably won't make much difference. One thing that has always concerned me about any recovery process is that it often does not scale up linearly...what seems peachy in a test tube often isn't viable on a production scale. While Maxam's production cost numbers look nice on paper, whenever I've called up Maxam and asked if the recovery process has been tested on a production scale, the basic answer I always get is that the consultants have done tests to support their calculations (i.e. the answer isn't a monosyllabic "yes"). Given that we're in uncharted territory with desert dirt, we have few or no normative standards by which to judge the economics of a DD recovery process, unlike the hard rock mining sector. Rand