Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Claude Cormier who wrote (8385)	5/17/1999 7:39:00 AM
From: Richard Mazzarella	Read Replies (2) \| Respond to of 11603

Claude, <<education on this new era in mining>> Maxam has previously done a lot of drilling (thousands of assays) and Richard Hewlett, their consultant, has provided the company with resource valuations (check the old PRs on the Maxam webpage). Dr. Hewlett's claim to fame is resource determination, he has worked for many majors. The BLM recently changed it's rules on documentation requirements since Hewlett's work for Maxam where the BLM wouldn't accept the reserve. Unfortunately Maxam was about out of money (the Maxam funding was coming from Phoenix that sold IPM BRX) when IPM failed. That's what the current COC is about, to prove the mapping and a small reserve provable to the BLM and new seed funding sources for a larger drilling program. Maxam now seems to have leapfrogged that requirement. We still need more details. PS, I wouldn't be surprised to see Maxam use the 5 acre exemption to prove recovery and grade, then expand however they can. Kilborn was supposed to do the plant design engineering. I don't know if that is changed. I speculate that funding is from a PGM developing cartel of some sorts, not a conventional bank. I like who's collateral stands ahead of small shareholders. That suggests lots of confidence to me.