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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: jlallen who wrote (13067)5/21/1998 8:36:00 AM
From: Max Haber  Read Replies (1) of 20681
 
Good questions. I have a few more.

1.)The last press release said drilling the new program was ahead of schedule. If that is the case, when can we expect to see the first set of assays from this program? Minimum 2-5 holes.

2.)Platinum and palladium. With price of these two precious metals going through the roof, supply extremely tight, looking to get tighter in the very near future, does Naxos have any plans to do more testing for these metals?

2a.)The cost of platinum assays, as I understand, is almost 5 times the cost gold assays. I can understand and appreciate managements desire to prove up a resource and watching finances at the same time.

HOWEVER---I DO THINK IT WOULD BE PRUDENT THAT MANAGEMENT TEST FOR PLATINUM EVERY 30 TO 50 FEET ON EACH HOLE. WHILE KEEPING THE FOCUS ON GOLD (SFA) IT WOULD BE WISE TO NOT IGNORE THE PLATINUM POTENTIAL. DO IT RIGHT THE FIRST TIME.

3.) When will the proxies be sent out? Any surprises inside?

4.) When is the date for management to set the price for their stock options (compensation)? Was it the date of the original annual meeting or the new date in late July? Is it based on a rolling average or a pinpiont price?

5.)Does Naxos have a shareholder rights plan or poison pill? If so what is the trigger point? 5% or 10% or 15? ect.
With the annual meeting 6 week away, impressive (convential) assays coming out, share price near the bottom of its trading range, could give some people ideas.

6.)Finances--With the stock in the $2's. What are future plans? I'm not a fan of dilution. Should the cash on hand last through the 40 hole drill program? If they are ahead of schedule are they also under budget?

Thanks in advance for any answers.

Max



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