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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Henry Volquardsen who wrote (13931)7/1/1998 9:39:00 AM
From: Random Walk  Read Replies (1) of 20681
 
According to the Annual there are 4,494,880 shares slated to come to market by Oct. 1999. This presupposes certain price levels at certain intervals, but what it means is in the absence of material fundamental developments that bring SIGNIFICANT buying activity to Naxos, we will languish. Each time the price goes up, warrants and options will be exercised and DUMPED. The lack of liquidity in the market and the lack of momentum in fundamental developments ensures a price of $2.50-$3.50 with an outside max of $6.00-$6.50 for the forseeable future. It's like trying to dry out a basement flood with a box of kleenex. For me lesson learned.
Don Schreiber
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