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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: knight who wrote (9916)	3/13/1998 10:48:00 AM
From: Larry Brubaker	Read Replies (1) of 20681

Knight: I agree with your comments. I have suggested a couple of times on this thread since the 3 opt came out that attempts to value the property based on (at the time) a few feet of one hole were ridiculously premature. I see nothing to change that opinion. I also agree with Richard's comments about GPGI and recovery methods. They can't even spit out more than a few thimblefuls at a time from a concentrated pile of 8opt. We have no idea if the Johnson-Lett process will be successful in extraction, let alone economic extraction. To my eyes, Naxos is in no better (or worse) position than several of the other dirts. A few weeks back, I pointed out the large discrepancy in market caps between Naxos and the rest of the dirts. That situation is correcting itself. By the way, Excite seems to have more recent quotes on Naxos than the previous afternoon's close. quicken.excite.com

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