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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Dick Hoaxland who wrote (10636)	3/19/1998 5:22:00 PM
From: jlallen	Read Replies (1) of 20681

You can go off half cocked if you like. I am willing to give JJ's successors some time to develop a track record before I label it poor. If you see no signs of progress you are not looking. The Johnson process is still a work in progress and of much less immediate importance in light of the results obtained on un-pretreated ore. More work is needed and I see the J/L process as a way to enhance commercial grades shown by RMG and Ledoux. The chain of custody seems clear to me. Have you asked the company for a copy of the "independent" report you are seeking? Does one exist and is that customary? I'm not an expert. I would agree that the information released so far is a good start but more is needed to attract a reputable financial partner.

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