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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: sh who wrote (7370)12/16/1997 3:52:00 PM
From: Kim W. Brasington  Read Replies (6) of 20681
 
To All:

I talked with Naxos management concerning the future testing plans and focuses within the next several months. The following were their responses along with other comments.

There has been a process lab added to the two new labs. The primary function of this process lab will be to prepare the material for analysis by the two other labs in conjunction with Ledoux. This will bring a total of three labs performing analysis on Franklin Lake material. As a cross check Ledoux will also receive Chain of Custody raw material that they will process and then analyze.

The pilot plant equipment has been ordered directly from the manufacturer. None of the equipment and labs were set in motion until Naxos had preliminary results from Ledoux that they felt confident with.

Preliminary testing using the Johnson/Lett process indicate that gold and platinum metal groups (PMG's) can be recovered simultaneously.

Naxos is interested in building fundamentals via multiple confirmatory groups. The budget for investor relations has declined over last year's. These funds have been earmarked for R&D. Naxos has not felt itself compelled to go out into the general public at this point to sell itself at great cost, when future results may well do that job far more successfully.

Naxos has always welcomed honest scepticism. Many of our present shareholders were once sceptical. Naxos has not deviated from the avowed goal of unlocking the metallurgical challenge of Franklin Lake. Naxos feels confident that the Johnson/Lett technology will materially enhance the company's position. The Johnson/Lett technology may well be amenable to multiple ores.

Regards,

Kim W.
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