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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: mark silvers who wrote (17113)12/7/1998 5:17:00 PM
From: Neal davidson  Read Replies (1) of 20681
 
Mark: Whether to test by assay or recovery is not a technicality. It seems to me that virtually no one will believe future assays. Maybe some would believe the results if numbers were repeated by three independent labs, and all the labs came up with results within 5% of one another. Based on the past, I doubt that kind of consistency from lab-to-lab will ever be seen. In order to make doubters (of which I am one) believe, Naxos must produce gold. Put the dirt in one end and let's see if any gold comes out the other. At that point, a few sceptics might change their minds, assuming they can overcome the fear that the dirt was tampered with before it was put into the pilot plant. Surely Naxos realizes that production would make some heads turn. The fact that management has not begun low-level production leads me to believe that they do not feel they can produce gold.

I acknowledge that there are some true believers who think that Naxos will prevail. But those believers obviously cannot make the stock price go up. Only changing some minds will make the stock go up. As far as changing minds is concerned, if the big boys could not rely on Ledoux, why would they rely on any other assay firm?

Show me the gold.
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