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

To: Larry Brubaker who wrote (4375)	5/18/1998 12:53:00 PM
From: Richard Mazzarella	Respond to of 11603

Larry, <<very smart move to go to a smaller pilot plant>> I agree. I have always maintained that Maxam doesn't have to produce anything other than demonstrate that "it can be economically done". I believe that Maxam expected IPM to prove up dirt and get the western land rush going. When that seemed doubtful, they started the Peoria Seven activity in earnest. However, as Tim Hall has correctly pointed out to us, things are easier said than done, permits, etc.. The small plant will achieve everything shareholders need in the short term IMO. Even though I don't understand it yet, Maxam posting nil on the fire assays without gobbly gook is refreshing. Charles gave us some understanding why, but I suspect Maxam is still scratching their heads.