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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: mark silvers who wrote (16733)10/20/1998 3:55:00 PM
From: Henry Volquardsen  Read Replies (1) of 20681
 
absolutely agree with the sentiment. But I am not entirely certain the J/L sycophants have totally won yet but they seem one step closer.

As I am sure you recall from our personal conversations that my greatest fear for the future of Naxos is that regardless of what the appropriate direction for the company is, wether it be accumulating small conventional projects or Dr Johnson's process, management will never be free to select that course because of pressure from large blocks of 'fanatic' shareholders who bought in on a pipedream and refuse to let go of their feverish fantasies of magic processes that will produce multiple ounces per ton out of plain dirt. Fantasies die hard and as long as some snake charmer with a bag of magic beans can sell them another illusion they will never relent. This, imo, is the biggest obstacle to Naxos ever find a strategy to produce shareholder value. A real lesson in the madness of crowds.
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