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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: RRG who wrote (4465)10/10/1997 1:56:00 PM
From: Doug Meetmer   of 20681
 
Johnson has allegedly been at Ledoux for the last two months, working closely with them. He reportedly left Ledoux a week or two ago. The company then comes out with a press release indicating the purchase of the options on Johnson's method. Ledoux has continued to work on the BD COC sample , even while Johnson wasn't present.

Naxos wouldn't have coughed up the money if they weren't getting very good news from Ledoux. They are quite sure the method works.
The better question , then is why the 210 days as opposed to purchase of the method outright?

Here are some possibilities:

1) Naxos wants to eliminate the 10% uncertainty about Johnson's method by having more time to test it.

2) Naxos is 100% convinced of Johnson's method but NOT SURE of the gold potential at Franklin Lake (now that's a novel one!)

3) Naxos may be evaluating other assays/recovery processes and it wants time to decide
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