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

To: Alan Vennix who wrote (8418)	5/18/1999 8:24:00 AM
From: Char	Read Replies (1) \| Respond to of 11603

Alan I can understand why you are confused. Some thing said at the meeting don't track the timeline properly. All I can say is this is what we were told. See if you can figure it out. There was a handout given to the attendees and these are some of the thing said in it. "Maxam Gold is ready to contract for the final design and engineering stages for this project, and anticipates initial production from Peoria 7 within 18 months, after funding." "Maxam Gold has sufficient mining and processing equipment on-site (earthmoving machinery, milling equipment, assay lab. ect) to operate Peoria 7 at the rate of 1000 ST/day. The company plans to begin production at a modest rate of 1000 ST/day, scaling up to 2500 ST/day during the first year of operations, and expanding to 10,000 ST/day within two years." "The initial target production (Peoria 7)is 100 ton per hour in a 10 hour shift and progressing to 2,000 tons per day." And then on the tape Dale mentions June 2001 as the date to be in full production and he also mentions Dec 2000 as the date for initial production. As you can see, some of these things don't jive. I guess we should probably ask Dale to provide a clarification here because it doesn't make sense to me either. Char