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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: soxan who wrote (12115)4/22/1998 6:04:00 AM
From: Henry Volquardsen  Read Replies (1) of 20681
 
Soxan,
funny you should mention it but I had just asked IR about Venezuela earlier in the week. Nothing earth shattering yet but progress continues to be made. The project is not cash flow positive yet but the burn rate is very low. 3 1/8 is probably high for valuation on Venezuela alone. I've been using a value of $1-1.5.
Henry
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