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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: W.F. Schwertley who wrote (13774)6/22/1998 8:29:00 AM
From: Tom Frederick  Read Replies (2) of 20681
 
Mr. Schwertley, What do you want "good" management to do? How about develop a credible program to prove up a reserve? How about hire mining experts to oversee that program? How about retaining one of the preeminent precious metals consulting firms with their finger on the pulse of virtually EVERY major player in mining which in turn gives Naxos a lead to plenty of JV opportunities once the undeniable proof of the ore content is revealed? How about ensuring sufficient cash reserves to allow for completion of the current drill program which will in turn keep Naxos in a good bargaining position for any JV offers instead of begging for a deal?

I'm not sure how much more you think management could be doing right now but I feel that the progress over the last 6 to 8 months is FINALLY on target, on track and making steady forward motion.

Granted we had to take 3 steps back to start moving forward again (abandon J/L as the primary test format and refine SFA) but look where that and getting Jimmy off of day-to-day operations has moved us!

Ask yourself this question. If the current management, and the specific actions they have taken in the last 6 months to move us forward had been taken 2 years ago, where do you think we would be today?

Myself? I say we would already be a producing mine and the stockholders would be counting their fortunes made on this property.
The point is that we are on the right track. Let them do their work.

Tom F.
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