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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: citydi who wrote (6330)	12/4/1997 2:32:00 PM
From: Doug Meetmer	Read Replies (2) of 20681

Citydi, I am a bit concerned about all the hype. I would certainly think that if there was a blockbuster news release coming today we would have seen some premonitory upside movement. I would also think that if liontamer and JP and others have had news leaked to them in advance, then certainly people with some real money to invest should also know and I would expect those people to be buying as we speak. That is particularly the case if there is a big presentation today, which would potentially ignite a fury of buying. In addition, the presentation should have started by now and at the first signs of any blockbuster news the stock should have moved. The market is efficient and translates news into stock price. In short, nothing so far has convinced me that we are to get blockbuster news anytime soon or that the presentation today has or will make any impact upon stockprice. If there is no news today we will likely see our shareprice fall tomorrow, as any speculators who did buy in anticipation of a runup in price could retrieve their money. Good luck, Doug

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