PR!!!!! Hey guys stop the noncense, here is some info:
Date: Mon, 11 May 1998 02:29:16 -0700
Subject: Stockwatch: Naxos Resources Ltd - Company Review
To: 100330.3420@compuserve.com
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3mo interim report
Naxos Resources Ltd NXR
Shares issued 29,412,014 May 30/96 close $8.35
Mon 11 May 98 Company Review
An anonymous director reviews the company
During the quarter under review, the company began assaying material from
the Behre Dolbear drill program and began its verification work on the
Johnson-Lett technology.
The company continued to work on its Venezuelan properties and its mill at
Km 88 has been in continuous operation through the period with a total
shutdown time of 15 days.
From the period of Oct. 19 to Dec. 12, 3,704 dry metric tons were processed
through the mill with an average head grade of 3.02 grams per ton of gold.
Total down time for the period of Oct. 19 to Jan. 31, 1998 was 17 days.
During this period, the total feed to the plant was 359 troy ounces of gold
with a yield of 305 troy ounces of gold, which equates to an 88 per cent
plant recovery level.
Since October, the company completed a private placement for 175,999 units
at $6.00.
Stock options and warrants were exercised resulting in $1,845,000 received
by the company.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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