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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: MIKE MORGAN who wrote (4375)10/6/1997 10:21:00 PM
From: Doug Meetmer   of 20681
 
Thanks for the ego boost, but the "grand Naxonian" title was "of the month." Other people get a chance at the title in the future.

It is my understanding that only one of the BD holes will be completed , hopefully this week. It was the deepest hole, more than 350 feet.
This is the "new" COC material. I am hoping the results will be as good as those from the SRK hole, as the material being tested this week is supposedly from a hole near to the SRK hole.

I do not believe the lawyers have completed all of the contract work for Dr. Johnson. He is a PhD and supposedly has been working closely with Ledoux over the past couple of months. He is supposed to go to Franklin Lake to head up the pilot recovery plant, but this will take months to get up and running. I think that Ledoux must really believe in this guy, since Naxos is giving him a superstar compensation package. I only wish I got to vote on that one.

Generally, I don't like to predict shareprice. However, just for fun, my prediction is that if the BD COC hole (that will hopefully be completed by thursday) shows at least as much gold as the SRK hole, we will see our shareprice push thru $8 but I doubt above $10. It will likely then settle down again to the $5 to $7 range. Remember, the guys that make a market in this stock are in it to make money and they are not afraid to get onto the see-saw. Just look at poor IPMCF.

good luck

-DM
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