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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: KRosenfeld who wrote (10539)3/18/1998 8:49:00 PM
From: Richard Mazzarella  Read Replies (1) of 20681
 
Ken, Naxos is as real as any of the other dirt's. All the dirt's can make a case for significant quantity of metal in the ground. Does COC mean much for stock price? Maybe that's just confirmation for previous speculation? Speculation already had us believe management, or not. The complex ore of the dirt's doesn't let us do property valuation by metal in the ground calculations. A valuation and mine still requires the demonstration for economic recovery. That's been the weak spot for these companies. A plant is being built doesn't answer the question, only the results. GPGI has one with 3-8 OPT ore, CHIP built 2 and is working on funding for a third. Maxam is building a plant at Peoria Seven and another plant milling operation for others. Make a plant seems to be the fashionable thing to do it seems, but as a researcher, I could better understand simple laboratory experiments that demonstrate extraction cost long before anyone needs to build a factory. Maybe in generation X language a mining laboratory is a plant?
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