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

To: Paunch who wrote (8257)	5/12/1999 11:29:00 AM
From: R F B, Jr.	Respond to of 11603

Paunch : At 1st glance the news looks good for Mxam; $30mm in funds secured with 33 mm shares from Mxam and 17mm from a large stockholder (Dale?). At .25/share $12.5mm is put on the collateral shares with the remaining $17.5mm being put as a value on 4 Peoria 7 claims. Funds to be repaid from production commencing no later than 5/1/02. This is all very good IMO. However, where is the financing coming from and at what discounted rate will the goodies be sold for to this group/organization....? The terms of the financing seem simple now but wonder what the complete actual terms really are. Either someone knows something we don't (very positive info) or we may find out actual terms are not really favorable to us shareholders. RFB