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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Jerry in Omaha who wrote (7379)12/16/1997 11:50:00 PM
From: Kim W. Brasington  Read Replies (3) of 20681
 
Jerard:

Two quarters = six months. Where were we six months ago? The six months that I spoke about was not the initiation of the multiple lab testing, but a time period in which these labs would be well beyond the familiarization stage and heartily into the testing. Testing of material that goes into making a mine encompasses thousands of assays. Working with labs means developing a relationship.

Naxos expectations are that this next quarter that is almost upon us, will be far more interesting than the last six months. The latest news release was let out to indicate the status of work being done at Ledoux. Not all information comes as one big wallop. A case is consistently built over time and with much verification. Acceptance comes at different levels for different people. For this reason Naxos has engaged as many labs as it has. I am aware of no other company that has gone to the lengths that Naxos has gone, to achieve proof.

In regards to time frames and Ledoux; Naxos asked Ledoux to give them an assesment of the Johnson/Lett procedure by Jan. 6. That was the only date that was set. Naxos recognized that time was needed to study and test the process and ramifications.

Chain of Custody will be used with the labs in question. The proof that Naxos wants to achieve would be aborted if COC were absent. Multiple labs running Standard Lead Fire Assays should materially increase the credibility of the Johnson/Lett process.

Now concerning the marketplace - a friend of mine who is an "efficient market theory" enthusiast quipped to me the following - "the marketplace will always factor in all information AS LONG AS IT IS SIMPLE." I tend to disagree with the first part of the statement but agree with the second half. What Standard Lead Fire Assays and Multiple Labs using COC material does is to simplify for the marketplace what many of us already have spent much time in coming to an understanding of. These types of foundations are simple and verifiable. The marketplace loves and rewards that. A diminution of risk often brings a rise in the price of an equity. Higher reward, however, are found before all risky variables are ironed out.

The pilot plant operation is perhaps one of the strongest points towards verification - you can count what goes in and then count what comes out. You take out your calculator and figure up the results. Pilot plant operations are turned over to independent engineering firm(s) for a given amount of time to let them run it and then come out with the verification of operation and results.

All of the above is an abbreviated outline of what Naxos will be doing.

Regards,

Kim W.

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