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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Henry Volquardsen who wrote (11829)	4/15/1998 10:48:00 AM
From: Random Walk	of 20681

In my opinion Naxos wont move on financing until more leverage is established in our favor. (#'s consistent throughout) I would always vote for share dilution in the form of PP's vs issuing subordinated convertible debentures, need I say Reg S conversion. Listing upgrade will have to wait for ASC, and a consistent $4.00 share price among other requirements. (see nasdaq.com for listing requirements) Prove out the playa and firms will hurl cash at us faster than a Randy Johnson fastball. Management is doing a better more focused job but they are still a bit slow to undo poor decisions IMO. Don Schreiber

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