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

To: Tim Hall who wrote (5447)	8/25/1998 9:29:00 AM
From: Richard Mazzarella	Read Replies (3) \| Respond to of 11603

Tim, I never doubted that cracking the desert dirt secrets would be easy. If easy, the majors would already be mining those mineralizations. Maxam's press release 6/4/98 shows the potential for 60% of the area measured. That even if conservatively extrapolated to the remaining property holdings is mind boggling. Recovery at <$150/oz could put most conventional precious metal mining non competitive. South Africa would be in real trouble. Runyon told me that he believes that the future in precious metal mining will be the desert Southwest. I would expect him to believe that. Lots of speculation of course, but what if realized? I suspect that as credibility for the desert sands grows, certain interests will attempt to undermine (pun intended) the desert sand's companies progress. I actually think we have already seen one, IPM.