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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Paul Salber who wrote (19954)10/29/1999 9:59:00 AM
From: Tom Frederick  Read Replies (1) of 20681
 
Paul, I'm sure Daphne will respond but in the meantime, regarding some of your points...

"the private placement which is to happen (what's taking so long)"

I believe that is what is referred to in release 99-15 in the last sentence "Naxos has funding in place to complete the exploratory phase of drilling..."

"the analysis work going on with Lithium and the other "Analyitical Processes" we discussed"

I assume that this is the testing we just heard about from Kim. Not just Lithium but a total of 40 elements.

"...even though Father Gregory had made an offer to
finance the company, you wouldn't accept a deal with him."

This is certainly not new and I hope all those left here still invested in Naxos realize that the likelyhood Father Gregory would have pushed for Lithium testing is about as likely as Bill Clinton becoming celibate. It is highly UNLIKELY he would be starting a broad based testing program on this level with a viable customer sitting at out side. It is much more likely we would have been hearing nothing but stories of "promising gold testing" ad infinitum.

Bob is taking a smarter, safer more reasonable path than we have ever taken before. I wish Naxos great success with this testing program.

Tom F.
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