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

To: go4it who wrote (5350)	8/18/1998 8:29:00 PM
From: Richard Mazzarella	Respond to of 11603

Charles, <<coming up with any ideas>> IMO Maxam tried to take too big a bite too quickly. If IPM was successful, Maxam would have had to reject a long line of people with fistfuls of money. Look at the size of Maxam property holdings. Now Maxam has to regroup. I have always viewed Maxam as an exploration company where there is the necessity to develop the extraction technology for its ores. If these properties could have been so easily mined, the majors would already be doing so. IMO I think it's a mistake for Maxam to become a miner, there are already lots of miners. All Maxam should have to do is prototype a mine which demonstrates capability and create credibility for economic extraction of metals from the ore. Income isn't important, credibility is the issue. That should help with funding that could enhance further resource development. Notice that Dale's recent message to shareholders now talks JV? That's the path I believe is best for increasing shareholder value in the shortest time.