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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: BGM who wrote (17387)12/30/1998 1:23:00 PM
From: Kurt R.  Read Replies (1) of 20681
 
Brad: When you say
>>I do think that any open meeting on this question would force all sides to disclose to a point that is positive for all shareholders.<<
Do you actually mean a shareholder's meeting or a meeting of minds? IMO, an open discussion in this forum would be a good start.
My question was, is there any rational reason to call in a special share holder's meeting for the sole propose of ousting the current BoD? Even more disconcerting are allegations that the "Dissidents" want to focus solely on the J/L Technology as a potential recovery method for FL ore. This reminds me of the man who said "Don't confuse me with the facts, I already made my mind up"

I also asked who could possibly be behind this move. Well, I guess a close look at who stands to gain (at least short term) from the completion of the deal between Naxos and J/L. If I recall the terms of the agreement correctly, J/L would obtain 10 million shares, but the voting rights of those shares would be yielded to Jimmy John. I am not saying that JJ is behind this move but I wouldn't be surprised at all if he were. Also, we should bear in mind that JJ's manner of conducting business and his numerous insider trades were (and still are) the main focus of the ASC hearing. So putting him back in charge may well be the kiss of death for Naxos.

Why would he want back in charge after things are going fairly after Bob Gardener has taken over? After all, a successful start-up of the pilot plant will earn him more financial success than the voting rights on 10 million additional shares. JMO

Kurt
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