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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Paul Salber who wrote (19380)7/2/1999 2:40:00 AM
From: Scott Corey  Read Replies (3) of 20681
 
Paul:

You conjecture that the Fr. Gregory/JJ connection is possibly that both
are "just large shareholders". You go on to state that "anyone who puts
forth so much energy to turn this company around has my support".

I have a question for you: Do you know, in fact, that Fr. Gregory still
owns any shares in Naxos? Does anyone out there know how many shares of
Naxos he currently owns? What he owned once upon a time is not
relevant.

JJ still owes the company a pile of money. I don't know where the $1
million number comes from but, if memory serves, it did start out at over
$700,000. Is it not in JJ's best interest to get control of the company,
if only to continue to avoid paying this debt? That is a pretty
powerful incentive!

I am a long time holder of this stock. In my opinion, JJ is nothing but
pump and dump and has actively manipulated the stock price for years.
It is also my opinion that he made so much money hyping the stock that
he never had either incentive or need to produce metal at FL. We all
paid the price for that arrogance.

Based merely on the known JJ connected shareholders whose shares he
appears to represent, Fr. Gregory is certainly not the person I would
like to see making decisions for Naxos, either personally or as a
conduit for others.

JMO

Scott
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