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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Millracer who wrote (7584)12/22/1997 1:06:00 PM
From: Missy Link  Read Replies (2) of 20681
 
I agree with you that producing PM out of small production lots at the pilot lab will be the true litmus test of this stock. However I think there will be more hole testing in the interem period between Ledoux certifing numbers and the start up off the plant. Testing the other four holes will give a better idea as to the consistency of the playa. I would suspect more drilling in the future to get an even better view of how the material is disperesed throughout the lake. Where would you want to start digging, at a point you felt there was the greatest certaintity of success or anywhere we have drilled a hole.

I think after we will see price movement after each stage of development. How can we determine the value of the stock if we do not have an better idea of how much material we have to process. By the way do you have an idea of the number of acres that are minable? The last David Snow article I saw had over 300 acres including the pan handle.
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