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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: william allen who wrote (4440)10/10/1997 8:42:00 AM
From: Kim W. Brasington   of 20681
 
William:

In late July there was a group of analysts/fund managers that visited the Desert Dirts/Clays. It was during their visit that they met Dr. Johnson. I had the privilege of talking with him on two ocassions and like the analysts and fund managers, I was impressed with his breadth of knowledge and experience. He is a very nice person in the fullest sense. He eschews the "Dr." title and says - "just call me Al."

There is no doubt in my mind that on our planet, there is no more qualified person to understand complex ores than Dr. Johnson. He has been dealing with them for 19 years. Some time in the next two weeks I hope to talk to him again and if he is willing, have him tell me some of the methods that didn't work and why. One of the most impressive clauses in the news release was the fact that Dr. Johnson has granted all FUTURE rights on improvements to Naxos. This is of import, because Dr. Johnson is actively improving the process and examining new applications.

The expense at first glance may seem high to some, but it is in the same ballpark that Naxos would have paid Dr. Groves. It may be inferred that Naxos has great confidence in the process to sign the deal. It shows great confidence also on the part of Johnson-Lett, that they have agreed to have the vast majority of their reward be back end loaded.

Regards,

Kim W.
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