Naxos Resources (NAXOF) Message Board

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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: ShoppinTheNet who wrote (3571)	8/28/1997 8:04:00 AM
From: mark silvers	of 20681

To All I hate to do this, but I think it is time to interject some reality back into this situation. Since Naxos makes up a significant part of my personal portfolio, I am as happy as anyone else about what has transpired over the last week or so. However I think that all this talk of $75, $100, $200, is extremely premature.(although it is a lot of fun) Richard M is absolutely correct when he says that at some point the fundamentals no longer support the price of the stock. At this current point in time, I think we are rapidly approaching that particular scenario. The only thing that changes that would be a news release of significant enough proportion to change the current fundamentals. That would allow the market to speculate about what goodies the Bd holes may give us, and therefore significantly raise the bar as to what the fundamentals will support. (Sorry but that's still not going to be $200 for right now)Once we get BD numbers and a little deeper into the drill program, then the bar can raise again. The only "outlier" factor that can change this scenario, is the reputed massive amounts of shorts outstanding. If there is a rush to cover, and the shorts go into the "lemming effect" then the stock can raise to levels that are not supported by fundamentals(but only for a short while) I would be interested an hearing other opinions on this..... Mark

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