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

To: Tim Hall who wrote (5321)	8/17/1998 4:56:00 PM
From: Richard Mazzarella	Respond to of 11603

Tim, <<BLM would require for ore reserves.>> I understand that the BPM changed the rules and the company wasn't aware of the change. <<recently tested COC material was not representative of their property?>> Runyon told me that that area was the worst possible of the property they could pick. In house tests couldn't confirm the recovery numbers (note that Maxam does have the advantage to be able to test, something Naxos got hung out to dry, even with COC). The company is getting a good handle on where the metals are, you will see that demonstrated in spades IMO, SFA. <<I would guess a minimum of six months>> I don't agree with you. The property BLM audit is underway. Sure the company has narrowed its scope, but they are going at maximizing results for the money available. BTW, I understand that some money is coming soon, don't know the details.