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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: sh who wrote (14508)7/20/1998 4:30:00 PM
From: Tom Frederick  Read Replies (1) of 20681
 
Can anyone explain such large volume and steady price now that the situation is more tenuous than ever? I could understand huge volume and 10 cent shares, or very low volume and a steady price, but large volume and modest support? The only thing I can assume is that many are willing to buy at these prices and average down.

As far as our share price, to me it won't take much to get us back into the $2 or $3 range again. For example, Ledoux stands up for the numbers and either of the check labs agrees to look into what may be the "problem" on THEIR side. Or, if Brian Russel releases a report that there are "encouraging" results from J/L. Either one or both of these would jump us right back to where we were.

Of course, that is just my opinion and not based on anything I have been told. Just conjecture as to why we see this high volume buying as well as selling at these prices and the current news.

Tom F.
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