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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Ruthie who wrote (14761)	7/25/1998 7:43:00 PM
From: Larry Macklin	Read Replies (5) of 20681

I realize that some of you ar big supporters of Fred Arkoosh and i can see why. He is a smooth-talking, confidant man that exuberates a lot of confidence in himself.However, at the meeting it was clear that Freds only agenda was to try to make Sid look bad by making unfounded accusations. When it became clear that Fred didn't have the votes to oust sid, fred didnt have much else to say. During one of the mant breaks in the proceedings i talked to fred. I told him that since it was clear that Sid will remain in control of naxos, fred should stop all the bickering and try and work with sid to reach a common goal. I suggested to fred that he stand up and say that we all need to work together and the fighting should stop. Fred agreed that that was absolutely the right thing to do. However, when the meeting resumed fred never said anything close to that. He had the perfect opportunity to become an asset to the company and open the door for the two factions to work together. Instead all we heard from him was talk of a special shareholders meeting because he didnt like the results of this one. His biggest supporter, Father Gregory, had the nerve to stand up and say that the voting was unfair and that the only votes that should count are those of the people who came to the meeting and basicly that management shouldn't be able to vote the proxys that the shareholders overwelmingly gave in favor of management.ABSOLUTELY REDICULOUS!. I know i am going to get blasted for saying anything negative about a priest but Father Gregorys suggestions at the meeting were not even rational. Fred Arkoosh is not willing to work with anyone currently involved at naxos and therefore has no place in the company as far as i am concerned. I am very glad that sid remains in control of naxos. He is an intelligent man of VERY HIGH integrity and honesty and is more than willing to be open to any possible idea that has a chance of making Naxos a success, including the JL process. Larry Macklin

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