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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Random Walk who wrote (16249)9/14/1998 4:29:00 PM
From: Cascade Berry   of 20681
 
The major problems with this stock include...

a. suspect disclosure

b. bad management

c. downtrend in commodities, global deflation.

d. the few investors still interested in gold stocks can have a field day buying REAL gold stocks. They are so cheap that why would anyone buy this turkey when they can get proven ore in the ground...eg. Gold Reserve, Manhattan, Farallon. The Gold bear has sadly diminished the ranks of gold bugs in ALL gold stocks and the few remaining bulls are not going to waste their money on a situation like this, when they can buy other proven companies which will recover when gold does.

e. proven history of screwed up deals on the part of Jimmy John - check your history people - this has all happened before. I know - I got burned - Plaza on the VSE.

f. inability to deliver simple fire assay results. I'm sure glad that forensic science can deliver a simple verdict on how much of element x is in a sample. Naxos can't.

g. Continuing investor hype. Check the length of this thread. There are more posts on this thread, per day, than almost any other thread around. <excepting maybe Bre-x>. Always suspect a company with TENS OF THOUSANDS of SI posts. aND MOST of it has been WRONG.

h. Continuing regulatory problems.

RIP
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