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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Millracer who wrote (9900)3/13/1998 9:45:00 AM
From: Tom Frederick  Read Replies (1) of 20681
 
Millracer, I take personal responsibility for my jaunts into "many zero's" land and your analysis is a very fair and reasonable one. I feel that based on past results from Ledoux more in the 1+ opt on gold alone AND knowing that there will certainly be other metals proven, the numbers you calculate, while very reasonable, could also be quickly eclipsed on paper anyway. You also bring up a good point which is the "discounted" price we are more likely to see as investors.

Here is my guess. As more and more proof is exposed on the real content of the property (which I believe is moving over to the fast lane now) more and more investors will be watching and waiting for the right moment to dive in. Anyone who wants to be in precious metals will be able to afford to NOT own a part of anything billed as the "world's largest" deposit. How much information that will take? Who knows, but at least it will be the 200+ hole program and recovery.

Again, your analysis is a very realistic one but I believe the numbers will improve and once recovery begins, we will find the true numbers closer to the last Ledoux results in the 1+ range as opposed to the .1 range which would move your $500 value to $5,000 ON GOLD ALONE and then with a 10% value, we still end up at a discounted $500 ON GOLD ALONE.

This ride in long from over.

Regards,

Tom F.
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