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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Tom Frederick who wrote (14491)7/20/1998 3:06:00 PM
From: sh  Read Replies (2) of 20681
 
Tom F.,

Good synopsis of where we are at and where we need to head. One cannot be ingrained in one methodology. It seems many here have come to the conclusion that Naxos is a dead horse without SFA. I don't believe that is the case. Even the SFA used by Ledoux was modified, as far as I understand it.

Neal D., I cannot disagree with you more regarding your implication that Fred Arkoosh's presence in the company for a couple of days results in at least partial blame being placed on him for the Ledoux fiasco. Ledoux was the responsibility of those who were at the helm prior to Fred coming on board. If anything, Fred may be able to salvage the Ledoux situation that was the result of the prior managers' work. They should have been on top of things and it certainly appears they were not. Their shortcomings were unfortunately horribly manifested in their inability to deal properly with Ledoux. On another note, if you want to look into liability issues and Ledoux, maybe you should look into the area of accountants' liability to shareholders who rely on their audits in investing in companies. However, hopefully we will turn out to be wrong about Ledoux and the long relationship between Ledoux and Naxos can continue.

sh
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