Naxos Resources (NAXOF) Message Board

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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Neal davidson who wrote (4151)	9/19/1997 8:17:00 PM
From: Jan A. Van Hummel	of 20681

Neil, The last time Naxos raised money it was at $1/share + 1 warrant, if I do recall well. To be able to raise funds at $5/share + warrant at $6/share underwrites the believe by the investor that something good is going on. You cannot expect an investor to cough up $800,000 without any incentive at all. Why would he pay over the market? He can buy at the market any time he wants! I think this is not negative at all, but mind you, it does not change anything at Naxos. It only reflects that in the eyes of some there is a perceived higher value of Naxos' stock. I doubt Naxos could have pulled this off even two weeks ago. Something is brewing, and brewing well. Just my opinion. Jan A. Van Hummel

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