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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: jlallen who wrote (12600)5/7/1998 3:02:00 AM
From: sh  Read Replies (2) of 20681
 
JLA,

I believe Tom F. was merely expressing an opinion as to whether or not test results will be released as the testing is done versus at one time after the entire testing is completed. His statement that he can say this with relative certainty is a reasonable one (I believe Kim B. previously confirmed this). I do not think that Mr. Frederick's other statements are, as you seem to imply, hype. While I'm certainly no fan of our management's history, I believe that the market will indeed have to take Naxos seriously at some point and that point should be arriving in the not too distant future. IF we get a reasonable resolution of the ASC matter and continued good test results, I believe we will finally get the investor interest that a company like this deserves. Indications are we should have positive test results (based on the prior tests done). We don't know what will happen with the ASC; however, if the ASE was willing to settle on favorable terms, I do not see why we cannot get that from the ASC once Naxos presents its case. After all, other than the claims against individuals regarding untimely reporting and the like, it is indisputable that Naxos' report of gold is legitimate and I don't believe that the ASC has any chance in successfully challenging that if they intend to.
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