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

To: Richard Mazzarella who wrote (8425)	5/18/1999 9:22:00 AM
From: Char	Respond to of 11603

Richard, Dale did say something at the meeting where he mentioned the BLM and COC and then said "there is another way to go that I'll cover that later" For some reason I don't think he did cover it later. Either that or it went over my head and I missed it. I guess I have to get a few copies of the tape into other hands so we can get a few more interpretations of what he was really saying. Char

To: Richard Mazzarella who wrote (8425)	5/18/1999 10:01:00 AM
From: Furry Otter	Read Replies (1) \| Respond to of 11603

<<I'm not sure that COC is even an issue any more for Maxam>> It does not appear to be an issue for financing, assuming there is no contingency term in the agreement that allows the funding source to exit the deal if Maxam does not get (x) recovery or (y) assay per COC...but is COC necessary for the BLM? Do you or perhaps Tim know the answer to this? Thanks Best regards, Otter

To: Richard Mazzarella who wrote (8425)	5/18/1999 10:12:00 AM
From: Claude Cormier	Respond to of 11603

<< I wouldn't expect him to, he only understands drilling, drilling, drilling >> Not true Richard. I also understand bulk sampling. Sometimes, a good mix of drillng and bulk sampling can achieve the same results. The fact is that a miner must spend between $5 and $10 in exploration dollars per ounce of gold in the ground before he can classify them in the proven category. In some very rare occasions, they get along with a number below $5. More often they exceed $10.

To: Richard Mazzarella who wrote (8425)	5/18/1999 12:17:00 PM
From: Char	Read Replies (2) \| Respond to of 11603

Richard, one thing I learned talking with Dick Steves is that there are some logistics problems that need to be worked out before the spin-off shares can be issued. It seems the shares will be restricted. For how long, I'm not sure but I would suspect at least one year. Anyway, the problem is that MXAM is not sure how to get the shares into the stockholders hands. A lot of the MXAM shares are held at various brokerage firms in street name and it seems that brokerage firms will not hold shares that are restricted. The brokerage firms also don't like to give out their client list since some people who leave their shares in street name do it for secrecy purposes. Right now MXAM is not sure how to even get a list of shareholders on the date of record for the spin-offs. I guess we'll just have to wait and see how they solve the problem. Char