Kurt,
<<"Please, Jerard, do not confuse due diligence with doing "R&D" on
technology that is already known, but Naxos failed to look for it. In
my view, management has seriously violated their fiduciary duties by
entering into an agreement with J/L without doing basic due diligence
on the J/L process.">>
Kurt, you surprise me with your statement. Research and Development is a form
of Due Diligence directed internally. But ignoring that I don't see what you
are so excited about. In my reply to Mr. Rich I indicated that no final deal
has been struck. I'm sure you are aware that Naxos has tested over 64 different
assay/recovery techniques and discovered through that investigation the simple
fact that the Johnson Process, by far, is superior to all the others.
There will be re-negotiated terms between Johnson and Lett. Those terms ought
to reflect all that we have learned about the process, including the possibility
of patent protection. Two things at least must be present before a patent could
be issued; "novelty" and an expansion of "prior art" by non-obvious means. On
the face of it grinding and baking do not sound novel at all and since we
haven't seen the patent application we have no idea what declarations have been
made with respect to prior art.
One more consideration that needs to be made is the possibility that further
R&D investigation may yield advanced methods which may be patentable, assuming,
that chasing patents is even worth our while. If there are relatively few deposits
like Franklin Lake in the world then patents would be of only marginal value.
However in my opinion the discussion about patents is immaterial. The Johnson
Process works and works very well and we soon shall have more certified numbers
for more proof. It has not been revealed on this thread before but my sources
tell me that after our ore is ground up and baked at just slightly more than
kitchen oven temperatures an observer can see with the naked eye "color"
indicating the presence of gold and other precious metals. I have been told that
our ore after the Johnson Process can be panned! This to me speaks volumes and
greatly enhances my confidence level.
So should it yours, my friend.
Jerard P
P.S. If you're trying to shout Jimmy out of his slot as the head of this company
I don't think it will do much good. Someone else tried to do something similar
recently and it turned out pretty badly for that party. Boy, and how. |
