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

To: Tim Hall who wrote (5158)	8/6/1998 11:40:00 AM
From: Richard Mazzarella	Respond to of 11603

Tim, I'm enjoying my zoo, very entertaining. I discussed some of the permitting issues with Runyon. Your information is close, but there are details that need understanding. I must admit mining paperwork details makes my head spin. There were new BLM mining rules that weren't interpreted for the company until late last year. Your comments about the Phoenix BLM office have merit. Bottom line is that Maxam can mine and concentrate ore from the 5 acres at Peoria without permit. What they can't do is leach at the site until properly permitted. If that becomes a time critical issue, the company will ship concentrate off site for extraction to get mining operational. Based on the 11/97 BLM ruling the company is moving for complete mine permitting at Peoria. The issue is Hewlett's field notes that weren't saved (the company didn't know that they were required for the assay work of 1996, the filing data, which is now required). Since an audit is required anyway for banking the property for funding, that audit will be used as the reserves basis. You seem to have a good handle on what's necessary for paperwork, you could sure help us out with the details by a conversation with Dale. I know he will answer any questions you have.