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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Al C who wrote (14100)	7/9/1998 10:06:00 AM
From: Herman	Read Replies (1) of 20681

When do you expect the report on the J/L process? How will the report be disseminated to shareholders? Will shareholders have time to vote their proxies accordingly? Who "owns" the report? After the report is released, probably to Naxos management, since they are now paying for it, do you expect any internal delays with getting the results out? I for one, fully understand that any report on the Johnson/Lett process will only be the first step of a long process of verification. Naxos now has completed the drilling of the 40 hole program. There is a tremendous amount of ore to be tested. Do you see any eventual hold-up? The real question that I am looking to have answered is this-- If the a favorable report issued by this individual, who everyone believes to be a credible source, verified by 3-4 recognized labs, how will current management proceed? Will they enter into an agreement with J/L immediately, based on further testing of course, or will they hold off on any decision until the annual meeting? I know that it is difficult to predict responses to questions and results that haven't been put on the table yet. But we need to ask the questions regardless. Herman

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