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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: mark silvers who wrote (14689)7/24/1998 2:42:00 PM
From: kenneth w. calligar  Read Replies (3) of 20681
 
Tom: Nice post. I would beg to point out to you and Henry that share ownership by company officials does matter. It matters to all institutional investors. It keeps executives in line with those they and exclusively to serve- the shareholders. This is a sticking point for me regarding Sid and Norton. Conversely, the longer it takes to prove this mine the more salary these two draw. ( "Salary" is an alternative term in this case for my/your/our money since Naxos makes no money and we fund it all through P.P.'s. Lastly, I repeat my deep suspicions of those who have gained from our loss. Saroff, Sid, and Norton (possibly others) have directly gained from the timely and sudden plunge in share price. This the result of questionable decision s regarding testing ( non-release of positives and compacted attempts by neophyte labs)--all of which were under direct control of Sid/Norton. P.S. Sid's a lawyer,right. How come zero progress with the ASC? Personal anecdote: In 1993 I was a partner of a firm that was sued on baseless claims by a competitor from which we hired several people. Our lawyers assured! us the case would be dismissed within several weeks at an arbitration hearing. Punchline-- Five years later we lost the case on a $1 mill plus award. We had spent more than that on our attornies and so had the "winner". Lawyer make more money with less progress.
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