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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Henry Volquardsen who wrote (17184)12/11/1998 10:09:00 AM
From: BGM  Read Replies (2) of 20681
 
Henry:
I was going to post to you that I thought your requests were very similar. The main area we disagree on is our views of JL. I am more neutral until I hear facts about what has been given to them and back since the first of the year. You are more inclined to draw a conclusion at this time. Perhaps you have talked to more or different people and have a different gut feel at this time.

I do believe considering the major role this process has represented over the last year's developments that we should have a very extensive recap at this time. This should include tests, results, and lack of responses if they have happened. Much of our emotional and financial pain to date has been because of the JL relationship. This should be made completely clear, as should the relationship with Ledoux.

At this time me have not gotten numbers on a new process. We have gotten a number. It is not clarified, not certified, and not duplicated. It is not specified where on the property it is from. It is not specified who this lab is and what kind of a process it is. There is no indication of any economics if it is a recovery. We are way far away from a point to get excited about. It also bothers me that the sketchy nature of this release is exactly consistent with past management practices.

I am still waiting for "facts" even with this new announcement. Management has provided almost none.

Brad Mertz
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