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

To: Richard Mazzarella who wrote (8281)	5/13/1999 9:58:00 AM
From: WLAVEL	Respond to of 11603

Hi Mazz, It was Kilborn, I was at the meeting. Fellow named Nicols made presentation for the company. WL

To: Richard Mazzarella who wrote (8281)	5/13/1999 10:31:00 AM
From: Larry Brubaker	Read Replies (1) \| Respond to of 11603

Richard, I'm afraid the lack of price movement on this announcement may be a case of the technicals disputing the fundamentals. One thing to ponder. The $30 million in financing amounts to approximately 3X the entire market cap. of the company. I would guess when we see the precise terms of the financing, we might find that Maxam has heavily mortgaged its future income to raise this money. Which shouldn't be a surprise considering the amount of the loan in comparison to the market cap, and Maxam's "immediate capital needs." But I'd also guess they had little other choice if they wanted to hold onto the company and realize some value for shareholders. At a minimum, it appears they've convinced somebody with some real money that their property and technology are worth a $30 million investment.

To: Richard Mazzarella who wrote (8281)	5/13/1999 11:01:00 AM
From: Alan Vennix	Respond to of 11603

SI is evidently having trouble with keeping up with the trades - even though there have only been 4 this morning. The SI info at the bottom of the page only has the very first trade of the day - a buy of 2500 shares at the (then) ask of 0.265. This was followed by a sell of 2100 shares at 0.255 and another buy of 7500 shares at 0.265. Bid/ask was then changed to 0.24 x 0.27. After a sell of 2000 shares at 0.24, bid was raised to 0.25 - looks like one of the MM's wants some more inventory and is raising the bid from the last trade. Alan PS - While I was typing that, 2 more trades went through, both buys. One for 20,000 shares at 0.27, the other 2000 shares at 0.28.