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

To: go4it who wrote (5228)	8/12/1998 8:14:00 PM
From: Rosie'sPaw	Read Replies (1) \| Respond to of 11603

Charles, I think I follow what you said, though I had to reread it. As to the science, I invested in Maxam after the 1996 AGM because I was so impressed with Dick Hewlett's process flow chart, complete with Knelsen concentators. Then, in early '97 we found out that this ore did not process well through a Knelsen concentrator. So Maxam tried grinding the ore and skipping the Knelsen concentrator altogether, and got much better results, though I don't recall on what size samples. The big Vibramills were bought and placed on big concrete pads, the pools were dug and lined, and it looked like we were ready for kickoff. Max Cooley joined the team to provide expertise in tweaking the process in the field (Hewlett is a lab guy). Then came Frank Somebody, a world-class resin expert. So all the pieces are in place, but NOTHING HAPPENS! Not even a few test runs to show the world that this recovery process works in the field, not just in Hewlett's lab. I don't know about you, but that gives me pause. Please understand my "agenda." I am frustrated. I am way too damn long this stock. I am buying at these cheap prices to bring down my too-high average cost per share. I fear I may be playing a fool's game by doing so, but I see little choice at this point. My hope is that stock speculation will move from Internet companies to gold companies in the next 6-12 months when the stock market as a whole, and tech in particular, takes gas. The gold bear market is not over. We will probably suffer through more downside. But gold stocks will have their day, and I just hope Maxam has its act together sufficiently to draw the interest of those opportunistic momentum-playing stock speculators with big deep pockets. I have almost given up hope that Maxam will actually become a company with earnings and dividends. FWIW from a little guy with too much MXAM, no agenda other than evening boredom, and appreciation toward this thread for giving me something to do on hot humid evenings! Clark