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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: W.F. Schwertley who wrote (12282)	4/24/1998 4:45:00 PM
From: mark silvers	Read Replies (2) of 20681

WFS First things first. Why do you break the hole up from 0-150 ft? Is there some significance to overall value at those depths? Second, why must the two richest depths be removed from the average? Do you think that they are not relevant to overall valuation for the property? Why must the old numbers be removed, they are part of the makeup of the entire hole, and should be considered as such. When all is said and done, people will put a valuation on the entire hole, they wont split it into two parts because the results were released in two parts. That is how the market will look at it, IMO. Mark

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