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

To: John Flaherty who wrote (4439)	5/19/1998 8:53:00 PM
From: go4it	Read Replies (2) \| Respond to of 11603

I was asked to post a summary of the Maxam AGM from a person who is shy about posting messages so I thought I would since it would be nice to have another view point. Summary of Maxam Annual Shareholders Meeting on May 14, 1998 Overall Summary: With the backing of Kilborn Engineering for Mine Engineering and Construction and potential financing by same, Maxam has substantial potential to emerge as a major force and catalyst. Kilborn's extensive invovement in Maxam may be the catalyst to change opinions. Kilborn's presentation at the Maxam meeting was extremely impressive. Maxam land holdings 84,000 arcres 1) Number of assays performed to date --over 14,000 2) Pilot plant at Cimetta Engineering in Tucson should be operational by July, 1998. Pima County permitting has taken more time than anticipated. 3) Maxam goal with Kilborn's assistance is to have 2,500 tons head ore production per day by March, 1999 (one operating module). Goal is to add 3 more production modules within a year to get up to 10,000 tons head ore production per day. 4) Maxam announced three 750 gram Chain of Custody yielding .53 ounces of gold equivalent metal from leach process performed at Denver's RDI (by Sean Armstrong). The Chain of Custody samples were not from one of Maxam's "hot spots." 5) RDI ) is writing report on Maxam Recovery System. Per Kilborne representative they appear to be involved in testing also of Maxam Recovery System. Kilborne rep beleives if report is positive it will be "bankable." 6) Kilborn is charged with designing the Recovery Systeme modules. Kilborn has built ALL of Barrick's gold producing plants worldwide. They have built some 200 gold producting plants. Key: Kilborn rep stated that while Cyanide leaching takes between 24 to 72 hours the Maxam Recovery Process takes only 15 to 30 minutes. Rep noted the financing and equity capabilities of Kilborn several times. He ended his presentation by stating that he expected there would be standing room only at next year's Maxam AGM. 7) The uniqueness of the Maxam Recovery Process is the techniques used as everything else is pretty much off the shelf. They have signed a confidentiality agreement. 8) Maxam recently purchased the entire lab of one of Barrick mines closed down for $ 70,000. Replacement value is $ 1.3 million. It took 4 semi trucks to haul. Maxam plans on building 7,000 square foot lab in Gila Bend. City has passed special permit to enable lab to be built. 9) Maxam has at least 3 resin experts. 10) Maxam has used Jim Fink of Hydrogeophysics for geophysical survey in which magnetic mapping has identified anomalies of high-grade ore zones. 11) Maxam Custom Milling, LLC has been formed to focus on building a custom mill to process a) sulfide ores b) manetite concentrates c) black sand concentrates d) high-grade veins Plan is to split the rovery 50/50 with the providers of the concentrates when the cons contain at least 10 ounces of AU or AU equivalent per ton of ore. Obviously Maxam is very excited about this segment. They seem to feel they can get this going simultanously with Maxam plant. 12) I asked Dale Runyon and Dick Hewlett independent of each other whether the Maxam Recovery Process would work on IPM's BRX. Both answers were a very difinitive yes. The resins are suppose to be very effective at taking the metals out of the pregnant solution.

To: John Flaherty who wrote (4439)	5/19/1998 9:08:00 PM
From: GlobalMarine	Respond to of 11603

John: Way back when, chemical assays were the norm. Then came along fire assay to make things fast and cheap and it became the norm. Refiners love fire assay because it often understates the actual PMs in concentrates, and the refiners can then cheat mining companies by not paying for everything that is in such concentrates. To test out the recovery method for efficiency and effectiveness, they're going to have to utilize bulk samples of 100's or 1000's of pounds, not 750 grams; many recovery methods that seem promising on a bench scale fail to scale up economically. Rand

To: John Flaherty who wrote (4439)	5/20/1998 6:51:00 AM
From: Chuca Marsh	Read Replies (2) \| Respond to of 11603

They said it was from 5 areas mixed together and concentrates were in 30 pound (of Concentrates) forms that were COCed to RDI. My notes are still in my packed suitcases! I posted on ores just now at GPGI, so maybe you can get some info by reading that. Message 4523898 The highpoint of the two week trip out (after the COC news and new Staking Activities and Sampling) was Al Hubbard saying that we are doing the "Right Thing in Staking Early-on" and Dale stopping the Bus on tour Day and saying that the Valley we were passing had a spot that was the "First Place " he staked in the Mid 1982. And then he announced that I had continued were he stopped staking and asked me to discribe the GRID-Sections! Nice to see that we think alike! Nicer still to see that when we last year all talked over the internet as investors who wanted to do something more...we compared and contrasted and spun off a name for those claims..." Techtalkers! " As Dale was tickled that we expanded on his insight and firstness, we are further tickled pink with anticipation that the 55K acres that were in the news yesterday were told to me by the VP of Galleon Mining ( a Threader here named Ron!<< a different Ron than the GPGI Ron>>); that our other claims of last year are infact surrounded by said acres! Yes, there is something happening in the desert, and those Plains claims happened, in my humble opinion....due to some stakers and claimers ...getting lost ( so to speak- figureatively) in trying to travel near Dales' Copper Valley- Right Smack in the Middle of the Eagletail Mountains ) as well as me asking /// Dick ( Mr M.) on this thread... "NORTH OR SOUTH of the Eagletails??? ??? ??? ??? ?" ( For Concentrations of sweet spots- look it up...in August 1997- that discoving was influenced here, no matter what the answer was then, the fact that we perused and THEN found only matters!) Group efforts are the togetherness that we all will see in a JOINT VENTURE! I can think only that JVs are the future of this Newtech Mining Industry- Custom Milling in the future! Chuca