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

To: Richard Mazzarella who wrote (5474)	8/26/1998 11:44:00 PM
From: GlobalMarine	Respond to of 11603

Richard: I'm desperately trying to smile but haven't found anything to smile about yet. Interesting thing about Maxam is that they say they have to contract an ore reserve audit before a feasibility study can be done by Kilborn. Makes sense, but notice that IPM had a recovery process evaluation done by Bateman/BD without an ore reserve statement. If Maxam's process works, why doesn't Maxam simply have the same thing done, it'll be positive, Wall St. will believe a positive report from a reputable engineering firm, the company's stock will rise high, they'll get all the financing they want to move forward, and everyone is happy? (No Richard, I;m not asking you this question, it's a rhetorical device to generate discussion) IMO, the company will NOT DARE to attempt third party verification of the recovery process at this time because of the risk it may be negative, in which case Maxam Gold may possibly follow in IPM's footsteps thereafter, IMO.