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

To: Richard Mazzarella who wrote (3214)	12/1/1997 3:10:00 PM
From: HungryLion	Read Replies (1) \| Respond to of 11603

I counted about 10 holes in Maxam's press releases. No resource calculation can be made on 10 holes. I believe that if Maxam got a couple of third party COC holes, the stock would be $3 in no time. With ~50MM shares outstanding this is simply a stupid statement. Maxam won't even allow one of their splits to be tested even though they claim their ore does not require proprietary assaying procedures. Time to wake up and smell the coffee Richie. HL

To: Richard Mazzarella who wrote (3214)	12/1/1997 3:20:00 PM
From: GlobalMarine	Respond to of 11603

Richard: <<If you talk to Runyon on the 96 press release, you may suggest that a few third party COC drill holes on Peoria Seven during this delay would go over very well in this skeptical market. The cost shouldn't be too prohibitive. I believe that if Maxam got a couple of third party COC holes, the stock would be $3 in no time.>> I called up Maxam before I read your latest post (I talked to Dick as Dale wasn't in). COC holes would certainly help the stock price, but I think Dale is using the limited capital available to get into production right now. I have a feeling that the company doesn't intend to do COC drilling because I think they feel the earnings from production will validate everything they've said and done previously. BTW, for the few holes that BD drilled for Naxos, the latter had to fork out six digits (I forget the exact amount). Naxos had to pay everything up front, including BD's intital due diligence on the company.