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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: jbIII who wrote (18347)	4/1/1999 10:48:00 AM
From: Tom Frederick	Read Replies (1) of 20681

jbIII, I think it's more like a "I'm not buyin' or sellin' till I know what the story is with the pilot plant" thing. Everyone I talk to is ready to play this out till the end. Naxos is an all or nothing proposition. The only middle ground option we had was Dekka and the shareholders said a clear NO to that. So here we are, just a few weeks away, and hopefully 100 or more tons of results away, from knowing if the bench test studies are accurate, repeatable and scaleable. For myself, the fact that Naxos chose to move ahead with this pilot plant indicates a high degree of confidence that the bench recovery tests in that format are scaleable to bulk recovery. But until they actually do it, both Naxos management and the shareholders are in the same position. Nothing to do but wait and not many reasons to trade one way or another. But that is a good thing because no trading means no leaks. No hints. No nudges. No side comments. No "inner circle" info. We're all on the same playing field. And that is definitely a first for Naxos. Good luck to us all! Tom F.

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