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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: BGM who wrote (19026)	5/6/1999 12:18:00 PM
From: Jerry in Omaha	Read Replies (1) of 20681

Mr. Mertz, <<Maybe you could elaborate a little on your comment about the shutdown of the pilot plant.>> Although I cannot substantiate this with reasoned logical proofs I have gotten the distinct feeling that the Fr. Gregory episode, may mercifully it be concluded, has been a persistent serious distraction and source of confusion for Naxos. To allay any protestations to the contrary which have popped up here on the thread let it be known publicly that last year Fr. Gregory told me to my face that he, with a little help from a large shareholder friend (not Mr. John), was going to remove the entire board and management and install a new regime. At least Fr. Gregory is a man of his word in that it appears he attempted to do just exactly that. I am left to conclude that some particular management crises led to the temporary cessation of operations at Death Valley Junction. Why this step would have been necessary is anyone's guess. I, for one, won't hazard one. I simply do not know other than it indicates the real seriousness of the situation. Thank you, Brad and John, for your kind comments. Jerard P

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