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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: mark silvers who wrote (5810)	11/21/1997 4:20:00 PM
From: Tom Frederick	Read Replies (1) of 20681

Mark, you bring up an excellent point...what are our expectations? I think that keeping this in relative perspective to the mining industry is a great starting point. Considering that we have heard before that commercially viable mines must produce at .07 OPT or better, your number of >73 opt is 10 X industry standards. We may have heard too often about multiple ounces to be impressed by anything under 1 oz but getting 10 X the norm really should make us quite satisfied. As in my previous post, additionally, we should also see great value in having access to the patent on the METHOD to get a .73 out of a DD property. I would think that IPM will be placing a call to Naxos quite soon after true verification of a patentable method of recovery that can improve their results by 10X or more. Mark, I am about to leave so I won't be able to respond, but thank you for your response anyway. Regards, Tom F.

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