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

To: Richard Mazzarella who wrote (3260)	12/2/1997 12:57:00 PM
From: Larry Brubaker	Read Replies (1) \| Respond to of 11603

Richard: Even if it was 4/1 concentration screening, 2.5 opt would imply head ore of >.6 opt, or nearly double the concentration of Maxam's highest grade yet reported. I'm starting to worry that this story is beginning to sound too good to be true. At .6 opt, we have $180 per ton of gold, $100+ per ton of other non-precious metals and elements, plus silver and PGM's. And the cost to produce all of this stuff is $7.50 per ton. Plus we have a completely environmentally neutral process. Meanwhile, we have a declining stock price. If all of this happens, it sounds like the most significant breakthrough in the history of mining. Just sounds less and less believable to me.