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Gold/Mining/Energy : Desert Dirts, Gold & Platinum, the emperors new clothes -- Ignore unavailable to you. Want to Upgrade?

To: go4it who wrote (1434)	5/18/1998 10:36:00 PM
From: Tim Hall	Read Replies (1) \| Respond to of 1913

Chuck, I have so many questions about Maxam, I don't know where to begin. Since you were at the meeting maybe you can clarify some things. Did you meet Frank X. McGarvey? Is he still working on the ion exchange process? You or somebody else said that they have a warehouse near Gila bend for a lab but late last year or early this year, they said they had already completed the mill control lab. What is the difference? Not based on press releases but on thread reports from various shareholders we have been told that equipment is installed and production should start right away. This company has invested a lot of money in equipment and installation. Now they have Kilborne in to check the engineering and design. Isn't it kind of late for that? I understand the permit problems. I never did believe that they would be able to operate a facility like they talked about on a 5 acre mining notice, but I would think that the mill should be in place and ready to go and that a little more permitting like filing a plan of operations should solve the permit problems. The truth is, I don't even know which mill they are talking about in the release. There has been a provision in the mining law for quite some time that prevents people from filing a claim just to get a lot to live on. The new law, which is controversial pertains to the five acre mining notices. The feds want more control over these little projects and better bonding. The Department of the Interior, under Bruce Babbit has been trying to make their own laws rather than wait for congress. I will try and post a like about this later. It is interesting to note that Maxam believes reverse circulation is better than auger while Naxos is just the opposite. Overall, I get the impression that Maxam takes a new direction every other day and never completes any one approach. I spoke with a manufactures rep who said he saw native gold in Maxam's ore. I really thought that maybe Maxam would be able to produce some gold through a gravity recovery process but now I even question that. Do you understand the confusion and can you do anything to clarify? I didn't want to post all of this on the Maxam thread and add to the confusion. VBG Tim Hall