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

To: Chuca Marsh who wrote (5476)	8/26/1998 11:59:00 PM
From: GlobalMarine	Respond to of 11603

Chuca: Another thing about the ten 10,000 ton a day plants that irked me was the implication that the company is still obsessed with power and control. The company may be on its last leg yet all they can think about is: 1) They want controlling interest over all JVs. 2) They want to control and manage the leaching phases of all JVs. 3) They want to dictate that all JVs produce 10,000 tons a day production. 4) IMO, the Runyon family wanted to maintain voting control over Maxam. This has severely hampered financing ability. Out of cash, the company has no choice now but to issue shares, and they're so worried about losing control they want a poison pill plan. Power, control, manage, what nonsense. Pretty soon, the company will control and manage nothing unless it gets its act together and produces metal.