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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: mfgrep who wrote (11278)3/30/1998 12:10:00 PM
From: Jan A. Van Hummel   of 20681
 
Jason,

I do not think that the pilot plant is necessary to show that the FL
field is viable. The pilot plant is necessary to show that the JL method
has sufficient merit to justify going to a plant scale development.

However, as long as we have not delineated the field we are taking some
real chances proving or disproving a methodology on an unproven field.

The results we have to date already show an economically recoverable
presence of PMs. What we need to know now whether the field is large
enough to justify further investments/development.

I would not be too worried about the plot plant at this time. Naxos has
very limited resources and need capital to take this to the next level.

Delineating the field will make much more of an impact than to get results
from a pilot plant, which has still the risk of falling short of
expectations. Were that to happen, we would be worse off despite having
good conventional results.

JMHO

Jan
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