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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Carlo who wrote (7776)1/3/1998 11:49:00 AM
From: Tom Frederick  Read Replies (1) of 20681
 
OFF TOPIC: which means a Naxos comment. Did anyone else catch the press on the Canadian gold companies and the gold industry in general over the past week? Some very interesting facts were pointed out.

1) 16% of Canadian exports are represented by mining. Kind of makes sense why the ASE was so anxious to be sure Naxos didn't make it.

2) Worldwide, gold companies are consolidating and the prime target is properties or entities with low gold production costs. The lowest mentioned in the WSJ article was a property in Peru with per ounce costs of $97.

There was so much more mentioned about gold it doesn't make sense to retype the article here but the second point above makes for a very exciting eventuality for Naxos.

When, not if, Naxos gets certification on the 3 opt and ANY other metal, the costs per ounce will start at $33 and drop from there with every ounce of metal per ton found to be recoverable. What do you suppose would be the interest level of ANY of the large gold producers in a property which could produce PROFITABLY at $100 gold, even $50 per ounce?

My opinion, and it is my opinion only, not heresay or rumour, I would say that once we have certification, interest levels are going to rise dramatically from a number of producers. Then, when recovery is proven for the real numbers (actual recoverable metals in total) then it would be gross mismanagement for any metals producers NOT to take a very close look at Naxos and put together some very serious offers.

The article was very clear that low cost production was the PRIME interest.

Just some thoughts here. I welcome any comments.

Regards,

Tom F.

P.S. HAPPY NEW YEAR EVERYONE! I THINK THIS WILL BE THE YEAR FOR NAXOS!!!
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