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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Bear Down who wrote (17506)1/24/1999 5:09:00 PM
From: Henry Volquardsen  Read Replies (1) of 20681
 
Bear Down,

If I in anyway contributed to talking you out of shorting Naxos when it was at $10 I would like to apologize. All I can say is that I was acting in good faith.

I believe Mark, Jerard, Neal, Larry, Kim, JLA, SK and many others were also acting in good faith. But I can only speak for myself. I based much of my opinion on the fact that we were getting certified results from Ledoux. In retrospect that was a huge mistake. I was shocked when Ledoux repudiated its numbers. But to blame it entirely on Ledoux would be to easy. There was a lot of evidence, mostly circumstantial but evidence nonetheless, that there might be some legitimate questions about the Johnson/Lett process and some of the people associated with it. I allowed my faith in Ledoux and my greed to blind me to these warnings despite a number of people pointing them out. It was a painful lesson to learn.

Henry
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