Naxos Resources (NAXOF) Message Board

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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: BGM who wrote (12558)	5/4/1998 11:09:00 AM
From: Tom Frederick	Read Replies (2) of 20681

BGM, I do know the "event" was on as of Friday. However, I do not know anything of the schedule or agenda. IR was very confident about their position, but the only thing that actually matters is what comes out of it. The selling on Friday might very well have been someone who just couldn't go through another ASC hearing and decided to bail. My opinion is that Naxos will do fine as a company. The gold is there, it is only a matter of how much and how deep and what is the method of recovery. The ASC can no longer make any case regarding the reality of PM's. So now it is only trading activity by JJ that is left from the original charges. And if they go after him, that can happen without affecting the progress at the property or the value of FL. We are not likely to know any results of the hearing until tomorrow at best only because they are 3 hours behind and they will finish the day at 8pm est. I hope the company will put out a release as soon as their is a final ruling. I can't imagine why not. Regards, Tom F.

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