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

To: Char who wrote (5789)	9/27/1998 9:16:00 PM
From: GlobalMarine	Read Replies (4) \| Respond to of 11603

David: <<I seem to recall from the AGM that Runyon said he plans to have around 10 mines operating and each one would be a separate LLC.>> The company cannot even demonstrate a recovery method, let alone plan 10 mines. IMO, that the company shelved its much-anticipated 10-ton pilot plant after its first and only test (which ended in failure according to the company and others) IS STRONG EVIDENCE THAT THE RECOVERY PROCESS DOES NOT WORK. Also IMO the company has shelved recovery process testing and gone hunting for high-grade paleochannels in the hope that finding the latter will somehow make the recovery process work (the idea here is that if you find high-grade ore, you can probably make ANY recovery process work).