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

To: go4it who wrote (6016)	10/11/1998 10:44:00 AM
From: Chuca Marsh	Respond to of 11603

<<Maxam is currently the desert dirts best prospect for success but I want to see them give us all something to believe in and a reason..>> we all want a reason and something more. Yet, I keep telling myself that I would put myself in Maxam Shoes and do exactly what has transpired if I were to really think hard ( or soft- that is the relative nature of this thinking) about the events since May. I do not profess to to able or capable of such but I ask - " WHAT WOULD A REASONABLE PERSON DO if: the financng pattern I have recently seen by the Bankers in BOTH my Mining Stocks and Biotechs is a given on re valuations and those terrible alternatives such as Convertible Prefferred Debentures and the best offer is always around the corner with JV folks asking for MORE than 50% and a piece of all action even though they could go out and do a hostile takeout at only 80 cents of Gold <only> value in the ground and hense all the effforts and engineering and Process Contol NEWTECHnologies would be discounted to 80 cents instead of the usually and customary $50 or even $25 value of GOLD in the ground should a COC drill program come out and be announced? Answer- a hostile take over would ensue and that would mean a reason WHY there has just within the month been arranged to be instituted a POISON PILL Amendment to the Maxam Charter! I would expect any reasonable person to agree to a statement that "If PD was announced and verrifed, what would happen without this Poison Pill in place?" Well, Dale Runyon asked such a question, and I found such Source Rock near Maxam Claims <within a crows flight>, and thus, my Partner Chuck Bankes as I am still proud to say knows these facts, but simply sees the answer differently. People are different, that is a fact as as Apple Says, Think Different. Chucaupt2 Different Than Chuck 1 but, we both want to see our 1 + 2 = 3 , I and he have invested time, effort and talent and truly see the value in Arizona PGMs - we continue to put our time( and Time in Managing over 10,000 acres of Claims In This Same Arizona is infact MONEY) etc where our mouth is! P.S.- Our Claim Group Knicknames me as Softrock and Chuck as Hardrock.

To: go4it who wrote (6016)	10/11/1998 12:43:00 PM
From: Richard Mazzarella	Read Replies (2) \| Respond to of 11603

Charles, sorry for my overreaction to your post. <<about a consultant being layed-off>> I don't know the situation of any specific consultant. Kilborn will be involved in the mine development as previously announced. <<I am EXTREMELY cash poor at the moment>> That's also Maxam's current condition, Runyon told us that in the last Chairman's message. They need to complete the COC audited resource before any major funding will occur. That resource demonstration blessed by the BLM will also show our critics like WL the gold. There is other funding activity that could support continued operations as needed, but the real game here is major funding to complete a mine. While the shotgun approach of the past must be curtailed (Custom Milling, large bulk recovery tests, redundant facilities, etc.) because of limited funding, rest assured that progress is still being made.

To: go4it who wrote (6016)	10/11/1998 8:48:00 PM
From: GlobalMarine	Read Replies (2) \| Respond to of 11603

<<I still believe that Maxam is currently the desert dirts best prospect for success but I want to see them give us all something to believe in and a reason for feeling this way.>> What I'd like to see is just one good COC bulk recovery process test (involving hundreds of pounds) to show everyone that recovery is indeed possible. If the 600 pound pilot plant failed because the COC ore was bad, why not simply get a 600 pound sample from a known gold-bearing zone, fire assay it to ensure there is in fact good gold values, and then run it through the pilot plant and report the results. If the pilot plant works, the recovery results would be good, and we'd be in business. But until that happens, there will continue to be endless speculation and uncertainty as to whether the recovery process works and it'll be reflected in a poor stock price.