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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: mfgrep who wrote (9058)2/12/1998 4:01:00 PM
From: sh  Read Replies (2) of 20681
 
Heard about « hour or so ago 4.5 x 5. Three factors have been emphasized today, continued release of numbers, "name" investor(s) to add to the credibility of the Naxos story and the production pilot plant. In terms of relative importance, IMO at this stage we need to get more certified results (that will presumably be relatively consistent) and we need to broaden the drill program to support the homogenous property theory. This will assist in getting "name" investors and I suspect will also be necessary to the development of a plan of operation for the pilot plant. We cann't simply rely on a few results from some holes in going to test production operation. As I said before, there's a good chance we would be setting ourselves up for major let downs, not knowing the extent of the distribution of the metals throughout the property. To wit, the necessity of establishing homogeneity. I guess it's more of a priority call here. Do you spend more money on trying to establish homogeneity before you can prove that even if it is there it can be produced economically? Or do you go directly to trying to establish it can be produced economically and then try to establish homogeneity. I would tend to support the former since we should know without a doubt beforehand that metals exist in areas we will be running the production tests on. Moreover, establishing homogeneity should bolster investor confidence significantly and bring in "name" investors. This process should not take very long with multiple labs coming out with a regular stream of results. The slow pace to date is what really concerns me.
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