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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: mark silvers who wrote (14649)7/23/1998 12:42:00 PM
From: BGM  Read Replies (1) of 20681
 
Mark:
There are so many things that "happen" that are "legal" and can be "explained" in one way or another. Each one individually can be made to seem "ok". Add them all up and it serves insiders first and outside shareholders second.

Why do you think that Sid Kemp, an attorney who has never run a business and a man who has no shares (oops! 4000)is better than a proven businessman with a very significant position? Why are so many people trying to defend a temporary CEO with obvious weakness and criticize someone with many strengths. Both should, of course, be temporary until experienced and proven mining staff can be brought on board.

In the past the only stated criticism you have had of Fred (if I recall correctly) was that the ASE negotiation was not completed as well as it could have been. Wasn't Sid Kemp responsible to sign off on that? It must be Sid's responsibility as company counsel to advise. In the past everyone has praised Fred's relationships with the ASE, Ledoux, Allen & Co., and many others. Now, when it looks like he might be able to fully utilize those praiseworthy attributes by replacing existing management he is portrayed as less than he was before. What has happened to cause posters to shift sides? Can someone tell me what "legitimate" business objective is threatened by this desirable change? To exclude the pat answer, I do not believe Fred excludes any option JL, SFA, or alchemy that will maximize the value of FL. Lets go on to another "legitimate" business objective if there is one.

Brad Mertz

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