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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Jerry in Omaha who wrote (12044)4/20/1998 11:05:00 AM
From: Tom Frederick  Read Replies (1) of 20681
 
Jerard, as an extension of Marks comments on what the market needs to believe in Naxos, the actual launch of the expanded drilling program gives a reality check to all those investors who were waiting on the sidelines. For those who have little or no confidence that Naxos will proceed and prove out the property, now they have to take a second glance and wonder to themselves. "What if they start proving up good solid COC certified results on the expanded program?"

Anyone on the outside now has to think very carefully if their business (institutions) is to make money on investments. The gold business is in deep kimshee right now. ANY big profitable property will be the darling of the industry. And when the drills hit the ground on a property that has already shown COC certified results from .9 to 3.0, with a property size estimated at 1 to 3 billion tons, as an investor, you have to begin to think a little harder. If you have lost your shirt on gold for the last year, is now the time to make it back?

As each hole is drilled and tested the risk will drop proportionately. But the longer the wait, the higher the price the less the profit per share. (Better to get in at $3 with some risk than get in at $50 with litte risk)

The volume will tell the story on this rise. If it is the big boys watch for blocks of shares move the volume. It won't necessarily move the price THAT much, but the volume with a steady price or slowly rising price will show pros are buying.

This is getting Veeeeeerrrry Interesting as old colonel Clink used to say. (or was that Schultz?)

Tom F.
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