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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Paul Salber who wrote (9203)	2/24/1998 12:55:00 PM
From: Paul Salber	Read Replies (2) of 20681

Ok... to break the boredom... let's go over the numbers (reserves ?) at F.L. According to the Naxos Web page (that could use some updating regarding the number of shares outstanding) Naxos has claim to 30,000 Acres.. There are 4840 square yds in an acre times 30,000 Acres times 20 yds deep (let's only go 180 feet down) assume that there are about 1.2 cubic yds of dirt per ton 4840 X 30,000 X 20 / 1.2 ~ 2.3 Billion tons of "stuff" Now... if we recover .. say.. 1/2 oz of gold per ton we have ~ 1.15 Billion Oz of gold... Ok.. so 1/2 oz may not be right.. insert your own number and figure it out... whatever you chose, it's a pretty large number... oh yea... and I forgot about the Platinum... Just dreamin' here on a crappy New England (weather) day

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