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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Thomas E. Wilber who wrote (33)9/7/1996 2:13:00 PM
From: IA   of 20681
 
I've been following the Naxos story for a while, and I think I may be able to shed a bit of light on the "management changes". According to what I've heard from people at Naxos, Arkoosh was brought for the express purpose of dealing with the ASE (Alberta Stock Exchange). Apparently he was brought in by shareholders of Naxos that were tired of the foot dragging and incompetence that seemed to plague all management levels; Arkoosh himself has implied that once trading has re-commenced, there will be some changes in senior positions at NXR. Given the suspicious nature of the ASE in regards to NXR President Jimmy John, I think that the "management changes" are a combination of Arkoosh's desire to show his willingness to cooperate with the ASE, as well as Arkoosh and his group of shareholders' desire to bring the Franklin Lake project to fruition as soon as possible.
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