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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: mark silvers who wrote (7588)	12/21/1997 11:41:00 PM
From: knight	Read Replies (2) of 20681

Mark, thanks for the reply. I guess I'm just nit-picking the Oct 9/97 agreement with J/L and the 90 day time frame to get to the "permanent rights" stage with the methodology. $500k plus 2m shares, jeez, I dunno? I think we could have cut a better deal with these guys in our favour. It's not like the market is beating a path to their door. I know all this is a useless excersise as the deal is done, but I think we could have used some leverage on our side rather than J/L. The way I see it, if this pilot plant phase flops, J/L walks away with, at the very least, $500k and 2m shares for their troubles. I still maintain that we should have offered $250k up front and the balance held in escrow subject to a satisfactory outcome of the J/L methodology as demonstrated by the certified assays and successful outcome of the pilot plant test. Guess I'm just hard to deal with. knight ( naxonian? hummm? a naxonian knight, does have a romantic ring to it.)

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