To: Chuca Marsh who wrote (5293 ) 8/16/1998 3:20:00 PM From: GlobalMarine Respond to
Chuca: I don't think I ever said I had good ears and am a good puttogetherer. However, I have always had a feeling that Dale Runyon would talk more freely to you than me...a lot of your posts over time contained info that was totally new to me and when I asked Runyon about such info, he'd often respond with, "I can't talk about that." For instance, you've made a number of posts about the Mongoose DCRS, and when I asked Runyon what a Mongoose DCRS was, he said he couldn't discuss it because it's confidential (total utter BS because I later found the patent for it at the IBM patent server). IMO, "confidential" to Maxam Gold means, "We can't tell people what is going on with the company because if we do, they may decide the company cannot succeed and then everyone will sell their shares and the stock price will be toast." Confidentiality serves more to protect Maxam from people finding out how grim the company's prospects are than to protect future earnings potential, IMO. Keeping the recovery process a secret serves more to protect against people deciding it doesn't work than future mining prospects. If the recovery process worked, the company would have hundreds of millions of ounces across 130 sq. miles of DD, so why bother setting up a micky-mouse 30 ton an hour Custom Milling project to process other people's dirt? BTW, if the Custom Milling plant did get set up, don't you think it would be used for Maxam's ore instead of other companies' ore anyway? In other words, the Custom Milling plant has become an alternative way for the company to finance building a plant to process Peoria Seven ore without the Runyon family risking loss of control of Maxam Gold (nothing wrong here, it's a pretty swift move, actually!). Anyone who wants to know the recovery process can find out (in the intelligence biz, it's not a secret if two people know). If you think Maxam can mine 130 sq. miles without anyone else ever determining the recovery process, you are dead wrong. What is truly wrong is the fundamentals. So many problems...small scale leach results only, no pilot plant results, no bulk leaching, no pickup of permits, everything is a secret, no money, poor stock price. What is the most reasonable explanation to tie it all together? The company is beginning production imminently, or the company is having trouble figuring out how to extract metal from the dirt?
