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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Charles H Donahue who wrote (15354)8/9/1998 4:27:00 PM
From: GlobalMarine  Read Replies (3) of 20681
 
Charles: Haber has an interesting idea, delegating FL it seems to Arkoosh/JL while Sid does other projects.

However, the problem with this idea is that IMO Sid wants POWER, and accordingly wouldn't be willing to delegate any significant amount thereof to anyone. IMO, I could be wrong but one possible motive (if you exclude the conspiracy theories for a moment) for Sid wanting to shelve FL is that with $1.8 million in the bank, he may feel that if it was all spent on an uncertain project like FL, the money would run out, the company would become insolvent and Sid would lose his job, salary and power. He wants to stay in power and collect his salary, so he may be thinking that to keep the company afloat so as to maintain his salary and power, he needs a more conventional project with a less uncertain outcome, hence a shift away from FL and towards conventional hard rock projects.

Rand
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