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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Neal davidson who wrote (17484)	1/20/1999 11:06:00 AM
From: Rick Nazaruk	Read Replies (2) of 20681

Neal, I was discussing exactly the same thing with Mr. Frederick yesterday. If you look back twelve months and see the activity and the discussions on this thread you would never know that it was the same thread. A comparison to then and now is that now we have zero..zip..noda hype. This is good. The proof will be in the pudding as they say!! And this proof will be arriving in a short while. I still believe that there is PM's at FL. However the question remains as to whether we can get ample recovery to justify the needed process. With regard to your question about Ledoux, it is my belief that now is not the time to pursue legal issues. Our funds are very limited and the legal fees at this point in time can be used in other areas of equal or more importance. However, don't misunderstand me...I believe that we as shareholders of Naxos should have recourse against them. I feel that we should wait. I too added to my position after hearing of Ledoux recommendations as many people did. I think that we are in the final stags of this saga. We are either going to recover economically or not. I personally have lost the dream (and that was what is was and deep down I knew it) of hundreds of dollars per share but I still have a glimmer of hope for something more than $.60 per share. Maybe 5, 10 should recovery prove feasible. A major buying us out would also be nice at 25...SORRY I GOT CARRIED AWAY....I'M DREAMING AGAIN. Should none of this happen ...it's a damn shame because so many of us have put alot of time, money and effort into something and got nothing for it. And for me the money is not the issue, it would be all the crap we have put up with over the past 8 years. Sincerely, Rick Nazaruk

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