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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Richard Mazzarella who wrote (15895)8/27/1998 9:36:00 AM
From: Henry Volquardsen  Read Replies (3) of 20681
 
Richard,
In order to address these differing views, we are considering various options for the restructuring of Naxos Resources (USA) Ltd. to facilitate the independent development of the Franklin Lake project. We believe those investors who came into the Company on the basis of the potential of Franklin Lake should have the right to continue that investment. In addition, we want to be in a position to attract new investors into the Company based on the technical ability of management to develop other more conventional mining projects. Naxos is continuing with its due diligence on a number of potential properties in association with the CPM Group. To these ends, we are continuing to develop a plan that addresses the interests of each shareholder group.
I don't know Richard, that implies something more definitive than an LLC as a partly owned sub. FWIW I'm not advocating either approach or even implying that the company has even decided on one. Just trying to infer what the above statement might mean.
Henry
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