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

To: Richard Mazzarella who wrote (4371)	5/18/1998 8:13:00 AM
From: Richard Mazzarella	Respond to of 11603

Press release: biz.yahoo.com

To: Richard Mazzarella who wrote (4371)	5/18/1998 8:55:00 AM
From: Mr Metals	Respond to of 11603

Are these results suppose to be good? Fire Assay 750 gm Leach Tests Test Number 1 2 3 1 2 3 Gold: Nil Nil Nil 0.043 0.049 0.041 Silver: 0.06 0.06 0.06 Nil Nil Nil Platinum: Nil Nil Nil 0.418 0.478 0.418 Palladium: Nil Nil Nil 0.048 0.054 0.048 Iridium: Nil Nil Nil 0.836 1.195 0.956 Gold Equivalent (not including Iridium) 0.532 Maxam has determined to place no commercial value on the Iridium reported in the analysis, at this time. Mr Metals

To: Richard Mazzarella who wrote (4371)	5/18/1998 10:59:00 AM
From: Larry Brubaker	Read Replies (1) \| Respond to of 11603

Richard: Who knows, maybe they were counting on payment from IPM to raise the money to build the 1,000 tons per day production plant. You look at Maxam's SEC filing and they don't have a lot of it. Up til now, they've relied on Phoenix for money (which has probably raised much of its money from IPM). Maybe Phoenix was unable to cash in on their IPM shares before they became, shall we say, depreciated? I don't like Chuck's report last night they are not planning to become a fully-reporting company. Makes you wonder what would be the reason except to not have to disclose how they raise money? The PR and AGM reports have generated many more questions than they've answered. For example, the PR says something about the original financing not working out. What are they talking about? Sigh.

To: Richard Mazzarella who wrote (4371)	5/18/1998 11:06:00 AM
From: Larry Brubaker	Read Replies (1) \| Respond to of 11603

Richard: To finish my previous thought, if money is an issue in building the larger facility, maybe it is a very smart move to go to a smaller pilot plant. IMO, nobody is going to take the dirts seriously until somebody shows they can produce a product consistently, day in and day out. The 10-ton per day pilot plant may be the evidence that is needed to bring some money into the company that doesn't require giving up your first-born shareholders to get.