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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Thomas E. Wilber who wrote (3693)	8/30/1997 11:16:00 PM
From: mark silvers	of 20681

To All Well here we are one full day after the release, and there appears to be two questions that the thread is wrestling with. They have been asked in many different ways, but they are esentially the same two questions. At the risk of being redundant, I will attempt to answer them. 1. WHY WASN'T BD MENTIONED IN THE RELEASE? Nobody ever said that these tests were going to be on BD certified holes. Anyone who has been around Naxos for awhile knows that the SRK holes were not dug by BD and that BD has nothing to do with them. The tests on the BD holes will begin shortly. There is no reasson to believe that the results will be any different than what was reported in yesterdays release. Does anyone here really think Paul Blumberg would certify Platinum and Palladium numbers if he had ANY DOUBTS WHATSOEVER? Would he risk the name and reputation(not to mention his own livlihood) of the premier assay firm in North America if he wasn't 100% sure that he could repeat it? C'mon folks it's common sense. Think of what you would do if you were in Paul's shoes. You'd make damn sure that you were right before you went out on a very precarious limb 2. WHAT WILL THE MARKET DO ON TUESDAY? Look at the available pool of people who will trade Naxos shares on Tuesday. A. Sellers- there are only two kinds People who are long and want out or want to take some profits How many people have waited all this time and are going to get out now? I think the answer is ZERO. You would have to be nuts to go through all this and sell on the brink of success. Someone who wants to take some profits- Many people who harbor those thoughts have already done so. There may have been some who weren't able to last week. How anxious are they going to be to sell a large percentage of their holdings now? Not very. Nevertheless, there may be some. The pool of people in this category is somewhat limited. SHORT SELLERS- How anxious would someone be to short Naxos at $7-10 when it could be at $50 if a positive report comes out three weeks from now. That is a horrible risk/reward scenario. There may be some absolute disbelievers of the Naxos story, but the pool of people who would actually short this stock at this point is also limited. Now look at the opposite side of the equation. People who already own the stock and will want to add to their position. I think if you are an owner, that means you give at least some credibility to the Naxos story. If you do, and the stock dips even a little, You are going to be all over it. Risk another $5 for a decent shot at $50 or more? That is a great risk/reward in my book. I think the available pool of players in this category is quite large. People who are new to Naxoas and want to spec trade and/or invest. I think the pool of people who will fall into this category after reading the release will be large. Why? Because of the possibilities. You will be able to possibly make multiples of 100% on your money within one month if things fall into place like they should Now what do you think will happen Tuesday? I could be wrong, but I think we will be up $2-$3. Mark

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