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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Tom Frederick who wrote (5850)11/24/1997 12:34:00 AM
From: GlobalMarine  Read Replies (1) of 20681
 
Tom: Thanks for your excellent post.

<<..."suppose" we had 100's of times the gold and PGM's ever thought existed and "suppose" they could be mined profitably bringing per ounce costs down. What would you do with them? The nice part of this type of think tank is that there will be a real chance to take advantage of any concepts develop via the Franklin Lake Deposit (and many more to follow).>>

This kind of reminds me of a story I was told about Dr. Groves, the leading scientist researching precious metals recovery from the Californian playas. The story I heard (I cannot confirm its accuracy) was that Dr. Groves was getting a lot of unwanted publicity over his work on Franklin Lake and Lake Tecopa and was worried that South African mining interests might take steps to protect their franchise, as it were.

It's interesting that radar or sonar may be able to map bedrock, soil densities and other subsurface geology. While it would help us to calculate total tonnage, I'm certain Wall St. will still demand drilling and assaying to quantify both tonnage and precious metal grades. However, that will not prevent people from driving up the stock price before hand in anticipation of tremendous yields and tonnage!

Regards,

Rand
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