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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: RRG who wrote (14264)	7/15/1998 8:52:00 AM
From: Henry Volquardsen	Read Replies (2) of 20681

The only points I would disagree with is #3 and possibly #5. re #3 you can't have two chiefs running an operation. If you have both Sid and Fred reporting to the board you run a big risk of undermining the effectiveness of both. IMO you have to pick one or the other. I don't know much about Fred so I don't have an opinion on him one way or the other. I've been pleased with the direction Sid has moved the company and would not be unhappy if he remained the interim CEO. But in either case I would prefer one person in overall control. re #5 My view it is that it is really the responsibility of J/L, and any other group pursuing new technologies, to prove their technologies. We don't need a full time employee to monitor this. Once they come up with something we can hire a reputable consultant, someone like Ledoux or Brian Russell, to analyze the process. We don't need to pay someone full time to sit around waiting for Godot.

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