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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: mark silvers who wrote (14949)	7/29/1998 6:37:00 AM
From: Tim Hall	Read Replies (2) of 20681

Mark, Help me to understand what has happened. Ledoux has been running Naxos COC ore for sometime now including checks and blanks. Everything was going fine. Two other labs are also running COC ore including checks and blanks. I assume that all three labs report results to Naxos management. Wouldn't Naxos management be the first to notice that the samples did not match? Wouldn't Naxos management be the first to notice that Ledoux was finding gold in blanks? Did all of the labs match for a while and then stopped matching? How many samples not matching did it take before Naxos noticed a problem or trend? From my experience, it is very hard to go after a lab. Especially with chain of custody ore. They will simply say that ran the ore the company provided. Unless other Ledoux customers have similar problems during the same time period, it will be hard to blame them. Given Naxos history with known problems assaying their ore, I really doubt that Ledoux's reputation can be tarnished by Naxos. Have you or anyone else been able to get CPM's take on the shareholder meeting or the assaying problems? Tim Hall

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