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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Tom Frederick who wrote (8786)	2/4/1998 12:01:00 PM
From: Henry Volquardsen	Read Replies (2) of 20681

Tom, Buffet is betting on silver only, not gold, at least as far as has been reported. The article in the Financial Times mentioned only the purchase of @130 mln ounces of silver. He made the investment because of specific supply/demand imbalances in the silver market, at least that is the way it was charachterized in the FT, not apparently because of a decision to invest in hard assets in general. Since silver is not a big part of the Franklin Lake story, as far as I know, this does not imply any knowledge of Franklin Lakes one way or the other. Henry

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