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

To: Char who wrote (8509)	5/25/1999 12:41:00 PM
From: Richard Mazzarella	Read Replies (1) \| Respond to of 11603

Char, <<Mine Reserve Audit and Feasibility Study>> Guys, calm down. I just got off the phone with Dale. The $30MM is very close to a done deal (no COC required, funding is based solely on Hewlett's technical reports). The other work (Mine Reserve Audit and Feasibility Study) is to get even more funding (beyond the $30MM) for other future plants. I expect Dale to explain more of the funding details when completed, there are still just a few minor (MINOR of no real consequence to us) details remaining. An exciting thing is that even with the funding source getting benefit of their investment, Maxam will still make handsome profits with their first mine for shareholders, my speculation. More plants just means more income. Dale want to have a number of plants operating sooner rather than later, his legacy. The timing is mostly the timing issue for permitting. I'll discuss that more later. Maxam Custom Milling could be operating (the recovery demonstration process) in 9 months. There is also a possibility of an earlier operation timetable for the Peoria plant (9 months) if regulatory agencies accept the new "environmentally friendly", secret sauce leach. Bottom line, I don't say this very often, but I truly believe that if you're not long at this stock price, you're very wrong.