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

To: Tim Hall who wrote (3335)	12/9/1997 5:47:00 PM
From: Lee Bush	Read Replies (1) \| Respond to of 11603

tim: The operation that MXAM has designed uses dozers and front-end loaders to excavate the ore. If they were to go below 100 feet, that would not be practical. As it is, they can mine in the upper 100 ft. (probably more like 50 ft.) in a circular area surrounding the processing plant, then move the plant, or at least a portion of the plant to a new close-by location. This keeps production costs low. Also, the plan is to build sister sites so that they have several shallow mining operations ongoing at the same time. Perhaps you already knew this. The only incentive to go deeper would be if there are sweet spots that they want to access. I have not read where they feel there is a markedly higher concentration at lower levels. Have you? Another consideration is the source for water. They have an excellent well at the site, but that well is said to be just on the southern edge of the aquifer. There may be a problem locating wells in other parts of the properties. This may mean that they will need to construct water lines to new locations. Lee