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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Jan A. Van Hummel who wrote (5618)11/16/1997 9:52:00 PM
From: GlobalMarine  Read Replies (1) of 20681
 
Jan:

In Jay's weekly update, he has two reasons for selling Naxos:

1) He thinks the money is better deployed in IPMCF and other good mining stocks; and

2) He doesn't think Naxos can bring a mine into production.

I think he may be wrong. Naxos doesn't have to do the work themselvses, they can just hire outside consulting, investment and engineering firms to do everything for them. If they prove out Franklin Lake, they can always sell it to Barrick and everyone retires rich.
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