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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Ed Huang who wrote (9050)2/12/1998 3:58:00 PM
From: Tom Frederick   of 20681
 
Ed, I have to say I lost you on that one. You said that the COC numbers on the last release were not very clear. I don't know how much more clear you need to be with 1.7 opt averaged out. If you mean that the numbers were in a range and the platinum numbers not showing up, then I understand but that does not take anything away from the great numbers which were COC and certified from some of the best names in the business.

It is important to remember that mining people I have spoken to agree that you can't assay high numbers and recovery low numbers. If you can assay, you can recover. And if you can assay over an ounce, you can recover VERY profitably. Plus, if there are additional PM's in every ton, you will be recovering multiple ounces in each ton in the same per ton recovery cost. As we know, many companies are at the $100 to $250 per OUNCE recovery cost, where as the estimates for the Johnson method are $100 to $150 per TON!!!

The numbers don't lie. And the numbers keep getting better and better. There is much work to be done, but none of what I see tells me that we may or may not have alot of PM's. That has been and continues to be proven. Now it is really a question of just how much is really there and actual demonstration of the recovery method.

Just my thoughts.

Tom F.
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