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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Richard Mazzarella who wrote (14495)7/20/1998 1:20:00 PM
From: Lionel Hungar  Read Replies (3) of 20681
 
Jay Taylor downgrades Naxos Resources from a buy to hold and turns
bearish on the desert dirt sector:

"As a result of this disappointing news, I am herewith downgrading
Naxos to a "hold" from a "buy". The news announced by Naxos last week
combined with the problems at IPM and most other so called desert dirt
companies, has caused me to re-evaluate my position on this sector.
While in my mind a considerable amount of credibility has been
established by some of the work carried out by companies like IPM and
Naxos, the cost from the point of view of my business has been very
great. I have personally lost what is for me a sizeable amount of
money on IPM."

"Companies that continue to promote their stock on information that
cannot be substantiated should give investors a very good reason to
suspect fraud."


miningstocks.com

LH
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