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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: mark silvers who wrote (9403)	3/5/1998 8:17:00 AM
From: jlallen	Read Replies (1) of 20681

Mark: Overall I agree with you excepting two points: 1. The news which has been released (with the possible exception of the last release) is not often long overdue (which leads to negative speculation), it is often ambiguous, poorly written and raises more questions than it answers IMO. 2. It is not a question of what we believe, as shareholders, would be a reasonable timetable for seeing progress should be, it is what is reasonable to expect based upon the science involved. I have seen no explanation from the company as to why for instance each new assay step takes so damn long to achieve results. I don't buy the "science takes time" hypothesis any longer. Finally, I think this situation has a lot of "moving parts" and I'm not confident they are all being looked after. I won't reemphasize my concerns relative to the company's management. Nevertheless, I am confident the market will eventually realize the value the company presents and it will eventually be fairly valued. I am long on Naxos and continue to hold my position. JLA

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