Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Richard Mazzarella who wrote (3210)	12/1/1997 2:48:00 PM
From: GlobalMarine	Read Replies (2) \| Respond to of 11603

Richard: I know Maxam wasn't trying to hide anything, but nonetheless it's pertinent to know what happened because when prospective investors read that mining was to start in 1996 and now it's going to be April, 1998, they'll wonder what happened. I called up and found out that the 1996 recovery method simply didn't work. The method involved digging up dirt, mechanically concentrating (no ADEQ permits required) and then shipping off the concentrates for further processing. The targeted concentration level was not met, so they abandoned the effort in favor of a leaching method ( hence, ADEQ permits required). What is pertinent is that since the company failed on its first recovery method, some people are bound to be more skeptical about the next method.