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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Jan A. Van Hummel who wrote (8122)1/14/1998 3:16:00 PM
From: Henry Volquardsen   of 20681
 
Jan,

Yes high cost mine will have to close, BUT they will be closing because of lower prices. Those same lower pices will impact our profitability. But to repeat I am not trying to posit rigid valuations, but rather investigate some of the factors that will be involved in determining valuation.

Henry
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