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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: BGM who wrote (17171)12/11/1998 8:27:00 AM
From: Henry Volquardsen   of 20681
 
Brad,

If you read my exchanges with Mark you will see that I agree that this information should not have been released at such a preliminary stage and in such a sketchy format.

I also agree with your numbered questions and would like answers to those as well.

I would also like to see a formal update on our relationship with J/L. I am willing, however, to let management make the decision on wether to continue working with J/L without an extensive explanation (I believe this is a minor point of disagreement). I will say, as I have indicated in the past, that I believe we as shareholders have enough reasons already to question wether the company should continue doing business with J/L. On the technical front they claimed to have a process over a year ago. Subsequently the process has been altered and as of yet remains unverified. So their original representations on the technical nature of the process were clearly wrong and perhaps intentionally misleading. On the ethical side there are also major questions. The conflict of interest situation has been discussed here ad nauseum. There is also the question of the blizzard of false and misleading rumours we have been fed about their results. These rumours frequently led back to the same source. To me this created some glaring questions about their business practices. This is why I would be happy to hear that J/L is gone. But for the recored I have no idea wether that is the case or is even be contemplated.

Regards

Henry
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