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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: citydi who wrote (6053)12/1/1997 11:28:00 PM
From: Neal davidson  Read Replies (2) of 20681
 
If i may add my two cents:

I do not think that today's fall off in the price of gold has anything
to do with the fall in Naxos' price. This is not a play on the price
of gold, this is a play on the discovery of a potentially huge find.

The delay in news is due to Ledoux's hesitancy to release test results.
Some people will be frustrated by the delay; this is inevitable. If you
believe the delay is a sign of bad things to come, then sell. I personally
am upset at the delay and think it is a negative, but I am not selling.
The worst case scenario is not, as Mark states, that there will be more
delay. The worst case scenario is that Johnson, Matt Walters and Fred
Arkoosh cannot convince Ledoux that the process leads to consistent results
and they cannot convince Ledoux to certify the numbers. This would be a major
blow. The longer we have to wait, the more plausible it is that Ledoux
will hold out. I am beginning to wonder how many times they have to
test the same samples before they will be comfortable enough to release
certified results.

By the way, I would have these same concerns if we were still waiting
but the stock was at $10. I understand the argument that goes as
follows: "The testing and retesting is being done to confirm the
results, and confirmation is necessary as the results could have
world-wide ramifiications." My point merely is that enough is
enough...either the gold and platinum is there, or it is not...why
is Ledoux still hesitant to release the results??

Skeptics who own this stock will not be as patient as those of us who have
been owners for years and have been posting on this thread since its
inception. We should expect volatility until results are released. Then
we will see real movement: either up to $25 or down to $1.00.
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