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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Max Haber who wrote (14241)7/14/1998 8:18:00 AM
From: Henry Volquardsen   of 20681
 
Max,

I do agree with the decision to pursue other recovery processes including J/L. However I disagree with several of your other points.

You say Naxos like most companies, needs research to do things better, faster, cheaper and in the Naxos case, higher yielding.
I disagree. We are talking about a junior development company here not a prodcution company. Dozens of junior mines have been successfully developed using conventional processes. Research is best handled by production companies that can better handle the expense. By having a development mine also engage in research you risk severely taxing both financial and management resources. Now given the potentially unique nature of Franklin Lake we have seem fit to involve ourselves in the research business. So be it. But if we can prove an economically viable conventional deposit I would be very happy with just that.

You also state Look at it this way- - - - if the Johnson/Lett method can increase the conventional method by only .03 to .05 oz/ton thats HUGE. Really huge.
That would be anything but huge. Everything we have been led to believe about J/L is that it is a higher cost extraction method. If all it is able to generate is a mere .03 to .05 opt then it is highly unlikely that it will be economically viable and it would most likely be a bust.

Let the research continue, but in the background and only if it appears possible that it will be economically viable. I am eager to see what Brian Russell has to say.

Henry
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