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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: knight who wrote (7957)	1/11/1998 8:34:00 AM
From: Henry Volquardsen	Read Replies (2) of 20681

knight, Nice to see you again. I agree that devil's advocates are needed on this and any thread. If you go back and check my posting at the time Message 3130918 yo will see I questioned the methodology of that post. I don't know if that kind of speculation does any harm however as it is not from the company but from an enthusiastic shareholder. My own belief is that there is significant metal at Franklin Lake and that if it is there in the amounts I suspect it will have one of the following impacts (or a combination). Either the producable amount will be so large it will significantly reduce metals prices and hence profitability. Or the the annual production will be kept low to maintain metals prices with the result that this mine would have an extraordinarily long life. One impact of a long life for the mine will be on valuations. Since long estimated lifes result in the out years being heavily discounted a large portion of the reserves will not be highly valued. Based on the 3 oz opt, assuming it holds up, I would be wildly enthused to see an eventual price of several hundred dollars a share. I know it sounds odd to posit a 50x increase as the more conservative valuation but that is what I believe the potential is based on the gold numbers we have seen, not thousands og dollars. If there is significant platinum and other metals it could move the number higher. Obviously given those kind of numbers the risks on the downside must be pretty high as well. These are just my musings and yes we have a long way to go. As far as HL, that was just my evil side coming out. When I heard he was reading the thread I couldn't resist posting something for him. It is sunday morning and I'll ask for forgiveness and strength in overcoming temptation. Henry

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