What is your opinion as to why Maxam has not yet announced any sort of ore findings? I'm guessing it's because they don't have the NI43-101, and they don't want to announce something like that without being able to back it up until they get revenue from the gold that they have already have in reserve, and refined for sale. This way, they can break from the pack of typical scams involving illegitimate companies in the 000's on the Pink sheets.
It is my opinion that the reason Maxam has not brought in revenue from gold sales, is because operations are being funded by third party investors, and Pembina Limitada itself which acts as a sort of shield from prying eyes who might get turned away by the proposition of a company spending significant amounts with no real returns as they wait for the value of gold to rebound. Seeing heavy spending with no real returns would put a nail in the proverbial coffin for a company trying to work its way out of stinky pinky land.
But it is also my opinion that we are not going to get out of this without a reverse split. With a reverse split, the company would give itself the opportunity to gain increased exposure to more reputable markets, making it significantly more attractive for larger companies, and bigger time investors. Reverse splits ARE NOT always a bad thing. And a 10:1 R/S would do an awesome job at reeling this baby in to realistic levels. I think 7 billion at a dollar, or 18 billion at 2.50 would be a major over-valuation as operations stand, if they turn out to be returning as much as everyone hopes, and as much as the company expected. I mean that would be nice, and there would be a lot of millionaires (And billionaires) made instantaneously, but I sincerely doubt that would happen. Not that it never has happened in the history of the market, but I don't see it happening here.
Without revenues, this will not move. A 43-101 will bring it into fairly profitable territory for investors, but I sincerely doubt that we'll see anything except a move to a higher tier inside of the OTC Market. And there is no way the company will make it out of the OTC Market without a reverse split, unless this is the most perfect play since Walmart's IPO. So is this the Walmart of ore mining companies? No. And if you're banking on that, you might as well go buy a mega millions ticket, because there's a better chance of winning your fortune on that than this being the next Walmart.
Is this going to be a solid company after a 43-101 and reports of ANY worthwhile revenue? Oh yes, very much so. Odds are after a small R/S. But that's my opinion.
