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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Doug Meetmer who wrote (4444)10/10/1997 7:59:00 AM
From: Donald E. Aken   of 20681
 
Two more weeks are the birthing pains of a major gold producing company and we are seeing how it happens first hand. Notice Jimmy will have control of a large amount of share votes, no hostile takeovers. Naxos will require controlling interest in other properties where the process is used creating unlimited potential for growth worldwide. New management coming on board with experience and time to grow with the company thru the drilling and testing stage combined with pilot plant startup for bulk testing at Franklin Lake.

The price and method of payment for the process seems reasonable and inline with industry standards. The percentage Naxos requires for JV with a partner that uses the process is also reasonable within the industry. Reading between the lines it looks like they indeed intend to be a major player and do it in house. Barrick did it and Naxos will do it and we only have to wait 210 days to know if its true. Then we'll be in the feasability stage and can have a whole new set of worries.:-)

Jay Taylor may even announce that the makeup of Naxos management would even pass a bankers muster and the prospect of major financing will not be a problem past the feasability stage, obtain approved plan of operation and we'll have a PM mine to build.

Venezuela will have been producing revenue for long enough to estimate and factor into the share price the present and projected value it will add to the company at the same time that the true value of Franklin Lake is becoming clear. Now it is time to work on the development part of the R&D equation the R part is in the bag.

There is a lot riding on the next 210 days and I"ll bet that there will be much attention focused as they draw to a close. If you thought
the last 210 days were interesting, stick around!
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