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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Michael Donahue who wrote (6863)	12/10/1997 6:13:00 PM
From: Kim W. Brasington	Read Replies (2) of 20681

Michael: Naxos asked Ledoux to analyze and assess the Johnson/Lett technology. There was one date in the document - Jan. 6th in which the first option on the Johnson/Lett technology comes due. Naxos asked Ledoux to give them an opinion before that date. The reason no iron-clad schedule was set up with them is simple - scientific process more often than not does not adhere to a given time frame. Had Naxos simply stated - give us the results of three assays, using a "KNOWN" technology, then results would be in hand today. The fact of the matter is that the Johnson/Lett technology is: a. New b. Demanding of time before a thorough analysis can be made Regards, Kim W.

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