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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: mark silvers who wrote (4397)	10/7/1997 11:54:00 AM
From: KRosenfeld	of 20681

On this topic, The new issue of Worth Magazine has a column by Peter Lynch on the subject of Gold. It is worth reading. Lynch describes how the average cost to bring one ounce of gold to market is $317. That is the cost of mining gold is $317/oz. With the current price of gold at $325/oz. or so you can see how many mines are being severely pushed. Lynch goes on to say how the best mining companies(i.e. Barricks) can mine the ore at 10% less cost (approximately $265/oz.) If Naxos can get the gold at the $50/ton processing as estimated by Snow, then Naxos is about to change everything we know about the gold mining industry. Pick up the latest copy of Worth (November). Besides instead of Intel as the focus of their issue, maybe in a couple of years it will be Naxos. When you read the issue you will know what I mean. Ken Rosenfeld

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