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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: BGM who wrote (15795)	8/20/1998 3:30:00 PM
From: Larry Macklin	Read Replies (1) of 20681

TO ALL just a few thoughts As of this moment, I do not believe that anyone in the world can state beyond a shadow of a doubt that Franklin Lake is definitely a viable project. We all hope it is an certainly there is some promising work that shows it could but there is also some work that shows that it might not be. I strongly believe that naxos does whatever it takes to continue the research into FL to determine the viability of the project. The brian russell work with johnson-lett should be explored to its fullest extent. But what if at the end of all this we discover that Franklin Lake is not a viable project? I for one, would feel a lot better at that point if the company had some other properties and projects that it was working on. Since i doubt venezuala will ever be profitable, i think it is very important for naxos to aquire some properties that are either producing or have completed feasibility studies and are ready to produce. I would love for franklin lake to be a successful project. I think it will be. But just in case its not, lets have a back-up plan!!! Thank you Larry Macklin

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