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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: jlallen who wrote (16234)	9/14/1998 9:13:00 AM
From: Henry Volquardsen	Read Replies (3) of 20681

Yes minority shareholders have rights. The real problem with calling another shareholders meeting is what would the agenda be? You want to change management? OK I'm prepared to listen. Who are the alternatives? Fred? Forget about him. His credibility has taken a major hit. Jimmy? Less likely than Fred. The problem with wanting to oust Sid is that there are no real alternatives currently associated with the company. And as far as getting someone from outside the company, who would want the job in the current situation. I want to see four things from current management. 1) How they plan to respond to the incompetency of Ledoux. 2) Further clarification of the comment about alternatives that would allow the shareholders a choice in focus. 3) The results of the Brian Russell report. 4) A resolution of the Alberta issue. I am currently prepared to give them some additional time to address these points, but not an indefinite amount of time. Henry

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