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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Henry Volquardsen who wrote (6529)	12/7/1997 12:02:00 AM
From: HungryLion	Read Replies (2) of 20681

It is not a question of Naxos sitting on the results. Ledoux has not released the assay results to Naxos yet. may 27 Naxos pr says, The Company has received a Notice of Hearing from the Alberta Securities Commission setting out three allegations. Firstly, the Alberta Securities Commission has alleged that the Company had failed to disclose information as to assay results in respect to its Franklin Lake Property or has failed to correct false or misleading earlier News Releases. Secondly, that the Directors were late in filing some of their Insider Reports in Alberta. Thirdly, that the Company has failed to file certain material change reports. The Company welcomes the Hearing and anticipates that it will be able to demonstrate all of its disclosures have been properly made. How do you know Naxos doesn't have the results from Ledoux? This is how the sucker game is played, a. release excellent assay numbers and promote the stock b. hire a reputable third party (Behre Dolbear) to verify assays c. naive investors believe that a scam operation would not try to reveal itself by hiring reputable third party so they buy the stock d. stock goes up based on hype e. Third party attempts to verify the results but cannot. They submit a negative report to the company f. Company never releases the information g. Eventually the stock collapses. Sometimes they sue the third party and claim they messed up somehow. The mining company has achieved the goal of raising its share price. This is what IPMCF did. The primary factor in fueling its share price was 0.25OPT RECOVERY of gold. IPM has never released the results of Behre Dolbears audit on that recovery process. The stock has collapsed. HL

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