Naxos Resources (NAXOF) Message Board

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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Kurt R. who wrote (7083)	12/11/1997 7:05:00 PM
From: GlobalMarine	Read Replies (1) of 20681

Kurt: Thanks for posting the report for everyone. Anyone who had stock in IPM would probably have a different opinion about its management than does Jay, IMO. Given that the ultimate goal of any management is to maximize shareholder value, IPM is near its all-time low and Naxos near its all-time high. IPM has 0.03 oz/ton in a fire assay method and Naxos 3 oz/ton in a recovery method that is fire-assayable. IPM failed to advance the property towards production and Naxos is advancing the property towards production by setting up a 5 ton a day demonstration plant to demonstrate economic recovery. On the Johnson-Lett agreement, if the deal to proxy to Jimmy the former's shares didn't occur, Johnson-Lett would automatically be in a position to control the company and Jimmy would be out of a job. So there had to be a deal to maintain management continuity here.

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