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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: jas singh MD who wrote (7991)	1/13/1998 5:55:00 PM
From: Kim W. Brasington	Read Replies (1) of 20681

Jas: Greetings! News should be forthcoming when the other labs get up to speed (in the near future). The Jan. 16th date has to do with a grace period observed by many companies (of three days duration) before insiders can buy or sell. I understand that this has been an issue for some persons who have been calling Investor Relations. The trading blackout is a Self Imposed one. Naxos wanted to address the issue of "pump and dump", by instituting a trading blackout. The COC certifications by Ledoux would seem to beg the question - why would any insider want to sell at this point? Further evidence is in the pipeline with other labs joining Ledoux in the testing of the Franklin Lake material. Just as a point of reference, the average Au grade is .2 ozs. per ton in North America. Certainly, using that as a yardstick these assay results have exceeded the norm. Regards, Kim W.

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