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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: knight who wrote (6415)12/5/1997 8:59:00 AM
From: Henry Volquardsen  Read Replies (1) of 20681
 
perhaps the reason we disagree is that we are looking at this stock from different perspectives. I am not interested in this stock as a precious metals play. I am definetly not a gold bug. I have had this discussion with others on the this thread, including Kim, who believe gold will rebound and at heart believe gold is the only true money. I disagree. Without going into a lengthy disposition at this point I believe there are very strong macroeconomic and sociopolitical forces that are behind the demonitization of gold. Gold and the other precious metals are destined to become industrial metals with much wider application at lower price levels. One of the powerful forces behind the trend towards becoming an industrial metal is technological advances in the finding and extraction of gold. The Johnson-Lett process is not the only potential new technology that holds the promise of unlocking new reserves at lower costs. To me NAXOF is a technology play. It is definetly high risk as the technology may not yet be sufficiently advanced. That in my mind is the gamble. I do most of my investing via real estate and private money managers. I keep a portion for investing in what I think of as high risk venture capital situations. Naxos is in the latter portion of my portfolio. I only expect 1 out of 5 of these stocks to actually hit.

I believe the folks who run Naxos are honest and that there is metal at Franklin Lake. They have a technology they believe will work and it remains to see if they are right. If they are wrong it will be an honest error.

One last point on why we may view this differently is that I NEVER look at the short side. I am an investor. I look for things I believe will work and take a shot. If I believed it wouldn't work I would just walk away. I would not short it. That is not meant to disparage honest folks who do short stocks. It is just that I know what works for me and thats what I stick to.
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