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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Richard Mazzarella who wrote (18166)3/25/1999 1:25:00 PM
From: Ruthie  Read Replies (2) of 20681
 
To: Mark Silvers (18169) and Richard Mazzarella (18170)

Mark: I haven't a clue as to why the dissidents are trying to undercut Bob. I just assume they are because of the timing of the "Special
Meeting". Can't understand it at all because one would think that
by disrupting the progress the company (led by Bob Gardner) has made, they are undermining their own investments. Do you have any idea of what their agenda might be? Do they still believe in the J/L methodolgy? NOTHING is clear-cut about this company. I'm interested in your opinion on this matter.

Richard: As soon as I received the proxies on Monday, I tried to call
Bob Gardner, but was told to leave a message on his phone mail. I did and asked him what I should do with the proxies. He didn't call back but the next day I received the notice about the meeting being invalid.
After I read your message today, I again tried to call Bob Gardner, but
was told he is tied up with all the legal matters going on. In the past, (before he was President), Bob always responded quickly to any questions I had, so I assume that he cannot talk as candidly to the shareholders as he did in the past because of his position. I have nothing but admiration for Bob and was delighted when he was named President.
The receptionist suggested that I call IR; I did and left a message. As yet, I haven't heard back. Should I hear anything, I shall certainly let everyone know what I hear. (At this point, doubtful.)
What I am trying to understand is: What should we do with these proxies?
Also do you think the dissidents' objective is the increase shareholder value and the present Board's objective is the create a mine? Are those the two camps? Or am I missing the point somewhere? If so, I guess I question how the former will benefit the company with this Special Meeting.
Please forgive the rambling and thanks in advance for your input.
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