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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: jlallen who wrote (13686)	6/18/1998 12:01:00 PM
From: Tom Frederick	of 20681

Mr. A. I don't even know how to respond to that. Please support your implication that "NO ONE BELIEVES" that there are PM's at FL. Do you suppose that Ledoux, a world class referee lab, doesn't believe its own testing? Do you suppose the ASE's president stated publicly that he no longer doubted if FL had gold because he didn't believe? Do you suppose that a preeminent gold market analyst firm (CPM) has made their FIRST foray into investment banking with Naxos because they don't believe their is gold at FL? Do you suppose you're still long (winded) on Naxos because you don't believe there is gold at FL? Come now. This is getting a little too much to take. If you believe that Naxos has no credibility half way into drilling and the start of the testing program for what will likely be the last good chance to prove a reserve at FL, then you better start weighing the risk/reward ratio very quickly. You don't want to get caught with all those capital gains problems with such a lousy company. That would be the ultimate insult! Good luck Tom F.

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