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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Lalit Jain who wrote (4380)10/7/1997 1:07:00 AM
From: Doug Meetmer   of 20681
 
To Jan and Lalit,

Don't you think that some of what will be announced is already factored into the current shareprice? Except for todays trading, the stock had been very strong, holding at about $7, likely partly due to positive expectations about upcoming COC report. I also think it is
crucially important to understand that one hole does not a goldmine make. I would expect that only after dozens if not hundreds of holes have been drilled and tested would any "majors" take any close look at Naxos. In the meanwhile, we will subject to major stockprice manipulation by those who pull the strings in the trading world. We are at their whimsical mercy.

I sincerely doubt, and I am not trying to be a pessimist only a realist, that the results of one drill hole will propel us much above where we are now. I doubt that we will be able to sustain a breakout above the current trading range. With that said, I really hope that I am wrong because I want to see a large profit NOW, but I would also be satisfied with a slow but steady advance into the double digits.

I am not afraid to take profits if Naxos hits $10 with a positive report this week because I cannot imagine there not being another chance to buy back in. Think about it, do you really think this stock is going to take off based upon one drill hole? There are so many unknowns and SO MUCH RISK still built into this investment.

Good luck to all Naxonians. We have some interesting times ahead of us.

Doug
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