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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: mark silvers who wrote (9563)	3/11/1998 10:07:00 AM
From: jlallen	Read Replies (1) of 20681

Mark: I agree with your assessment on all points. Hopefully, the company will plug the leaks and provide a well written release concerning the assaying which is being performed in the very near future. I believe the upcoming shareholder meeting should be a strong incentive to get the news out (a logical supposition on my part, not rumor as I claim no special knowledge). I believe the stock is undervalued but if you review the charts for Bre-X which IMO are somewhat instructive even though the company's claims were eventually proven a hoax, (no I don't think Naxos is a hoax), that stock didn't really start to move until Morgan Stanley got into the picture. I've said before that I think the stock will only start to move when we find an investment banker and/or start pulling PM's out of the pilot recovery plant. I still feel that way and after the next release I think the company's top priorities should be to find a banker and ramp up the pilot plant. I don't think management will change anytime soon. I will be happy to be proven wrong on any/all points. JLA

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