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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: mark silvers who wrote (18767)4/27/1999 3:47:00 PM
From: Ron  Read Replies (1) of 20681
 
Mark, sorry for the short response, but seriously, what would MG gain by any merger with Naxos? and the answer isn't some huge resource that they can't find elsewhere. They have a cinder cone with let's say 190M tons of ore, they have a basin over 5 sq mi. that even if only mined to 100 feet over half of it is another 350M tons of ore, they have land right around Martin's Peak that probably has another 50M tons (conservative). That's almost 600M tons of material. You don't need much yield to have one humungous business. ( just run the numbers at 1 to 2 oz per ton)
Why take on anything else that has nothing but problems in it's portfolio when you know the big boys will come knockin without it!
I wish the Naxos company and shareholders well in their endeavors, but I believe they will have to pull through on their own. MG has plenty.
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