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

To: Richard Mazzarella who wrote (5318)	8/17/1998 2:59:00 PM
From: GlobalMarine	Read Replies (1) \| Respond to of 11603

Richard: I agree that the PMs are not distributed uniformly across Peoria Seven. However, Runyon told me 0.05 ore was economic, and I'm disturbed that the 0.04 ore from the COC has to be tossed. If you get 0.04 from 750 gram leach tests and now have to get new COC ore, it suggests that the pilot plant has difficulty extracting PMs to the same degree as a bench scale leach test, in other words, there's a scale-up problem. There's still hope. The fire assay protocol appears sound and shows gold in the ground. Can Maxam get it out, that is the question. Rand

To: Richard Mazzarella who wrote (5318)	8/17/1998 3:02:00 PM
From: Tim Hall	Read Replies (1) \| Respond to of 11603

Richard, Several weeks ago, when I mentioned that Maxam was having trouble with the BLM over ore reserves, your response was that Maxam had one of the best ore reserve specialist in the business. Now it would appear that Maxam is back to square one. They will have to start exploration, assay, and calculation all over again. This may also mean that they have to start redeveloping a process for their ore. It seems strange that being the expert he is, Dr. Hewlett seems to have no idea what the BLM would require for ore reserves. It would also appear that all of the Maxam money spent for Dr. Hewlett to do ore reserves was wasted. It also appears that Maxam doesn't have any idea what they have in the way of mineralization. The recent news pretty well voids all of the BS on the "Technical" page of their web site. How do they know that the recently tested COC material was not representative of their property? I think what that means is, "the assays came back blank so now we have to figure out something else". Everyone indicates that Maxam is strapped for cash. How are they going to fund all of this? Does Maxam have a board of directors? I don't see any of them listed at the web site and I have never seen them referred to on the Maxam thread. Strange!!!! I would guess a minimum of six months before you see any new hype on this puppy. Tim