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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Pamela who wrote (4490)	10/11/1997 12:24:00 AM
From: MIKE MORGAN	of 20681

Like everyone else, I am excited over the news release. The many posts subsequent to the news have been interesting and expressed a number of good points. I have to say that I was extremely surprised at the dollar figure being paid to J&L for their process. I can,t imagine a small company not being elated to receive "1" million shares of this company for the creation of a unique assay and recovery process. Think about it,even for two decades of research and dedication ,7 million dollars(MINIMUM) is no chump change! If the process is in fact highly successful, and the stock reaches $100 a share we are now talking about 100 million dollars. Where are these two men going to spend that kind of money! Now multiply by 10 and you get the deal that was negotiated. I might expect a contract with Johnson and Johnson or another fortune 500 company complete with a battalion of M.I.T. educated chemists on their staff and their own state of the art laboratory to enter into a contract of this financial magnitude, but I was very suprised to see Dr Johnson being offered this amount. I know these thoughts may go against the grain of many other Naxionian opinions. I have read the previous posts speaking to the potential of this process and the Naxos/Johnson contract and have to agree with all the well written thoughts. The potential IS tremendous! IMHO , Naxos could have negotiated a less costly deal for the same goods from the same persons. I'f you were one of these two men would you turn down a ONE million share contract? THIS IS ONLY MY HUMBLE OPINION. I like the content of the news, but I think we could have struck a better deal. Go ahead now,FLAME ME, or agree if this crossed your mind too. Looking foward to the #s and double digits soon. MIKE M.

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