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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Paul Salber who wrote (18737)4/27/1999 12:17:00 PM
From: Tom Frederick  Read Replies (3) of 20681
 
OK Paul, here is the scenario. J/L and Father Gregory get back in. All work is halted at the pilot plant. They redesign the plant to J/L specs. They spend the next 8 months getting everything right. They have good assays, good bench tests and you are only a few weeks away from getting what J/L think will be conclusive proof that the J/L method works or not.

In come some dissident shareholders who feel that the Bob Gardner crowd just didn't get a fair shake. They put out a proxy intended to stop all work on the J/L plant are reconfigure again for the format intended for the Bob Gardner group.

Do you think this is a good plan? Does it make sense to you? Does it seem fair?

Like others have already pointed out, we dont' even have anyone proposing just what Father Gregory wants to do...specifically that is. What method of testing will he pursue? Is he going to focus on assay or recovery? Is he bringing back J/L? With the same "lucrative" deal with Naxos (1/3 of the company)?

You jump in with both feet to support the good Father and attack Bob Gardner as treating us like "mushrooms". Well Bob has explained exactly what he is doing and why. He has explained his timetables and what he hopes to prove in those timetables.

Father Gregory is just saying "trust me" with NO details, NO plan, NO explanation as to what his course of action will be and, most important of all, WHERE IS HE GETTING THE MONEY TO PURSUE ANY COURSE OF ACTION! It won't be from the Sunday collections, I'm sure of that.

Paul, what does it hurt to let Naxos finish what they have started?
We have good assays, good bench test results, and a running pilot plant. Why does this threaten everyone so much?

If the plant doesn't work, Bob himself has said they are "open to any and all methods" which might prove fruitful on this ore. They you and the Father Gregory group will have all the opportunity they want.

In the meantime, there is nothing anyone can do to stop the testing. We'll know soon enough if Mr. Gardner chose wisely or not.

Tom F.
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