SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Naxos Resources (NAXOF)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: sh who wrote (17248)12/15/1998 10:04:00 AM
From: Henry Volquardsen  Read Replies (2) of 20681
 
Just to stick my two cents in.

You refer to the plan to sell a one third interest in Franklin Lake as surrendering 1/3 of Naxos. We did not have enough details to accurately describe what the plane entailed but as I recall the funds were going to be used exclusively to research Franklin Lake. Both conventional and Franklin Lake were going to be independently funded. I have to say that I found the idea very interesting as it allowed Naxos to diversify its risks and made each approach bear the costs of its own funding. You may decry the dilution that would occur to our interest in Franklin Lake but that is the simple reality of funding this research and is going to happen regardless of wether we went with that plan or some future plan. But personally I would rather sell one third of Naxos and get some cash for the research than hand over one third of the company to J/L for its services. The dilution would be the same.

I do not know Fr. Gregory and have no idea what he is or is not advocating. But if he is advocating a greater role for J/L in Naxos at this stage I would strongly disagree. J/L's actions over the last year plus, both their lack of verifiable results and the questionable business dealings, have given us more than enough reason to be very careful in our dealings with them.

I would also like to comment on your statement that People like Fr. Gregory have a firm belief in the richness of Naxos. What nonsense. On what do these people base this firm belief? Are they trained geologists? Belief is not enough. Franklin Lake is just a patch of dirt that may or may not contain precious metals. This will be proven by the appropriate testing and belief has nothing to do with it. I fear that people who have a firm belief in the richness of Naxos have this belief because they bought into a fairy tale peddled by people who have a different economic agenda than the shareholders of Naxos. The only way we, as common shareholders in Naxos, are going to prosper is if we stop believing in fairy tales and make our decisions based purely on verifiable science. I adamantly oppose handing over a significant chunk of this company to J/L simply because their siren song is soothing to the ears of people who have a firm belief in the richness of Naxos.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News