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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

To: Paul Salber who wrote (19380)	6/30/1999 8:35:00 AM
From: Max Haber	Respond to of 20681

If Stanley Coombs, Bob Gardner and Daphnie are running the show are they also the ones who are ultimately responsible to make sure that the company has sufficient cash to handle their current operations? Who currently in the company has the responsibility to make sure the leases are paid and that all financial information is filed on a timely basis to keep Naxos in compliance with exchange rules? If anyone has had a chance to talk to management please let me (us) know if the basics are being handled. Thanks Max

To: Paul Salber who wrote (19380)	6/30/1999 9:35:00 AM
From: Tom Frederick	Read Replies (1) \| Respond to of 20681

Paul, If you are looking at the stock price and timeliness of releases, precious metal exploration companies are the last place you should invest. Regarding the price of the stock when JJ was running the show, what very few here seem to accept is that Naxos was NEVER worth more than a buck based on hard data. JJ simply hyped us all the way up to $10 at which point some who knew better cashed in their chips. The slow but steady price slide from that point was only slightly slowed by continued hype. Matt Walters had told me on the phone, during the trading halt, that so much had been accomplished by Naxos during the halt that when they did start trading again Naxos would likely open at around $80 or more! Hyped stock prices have nothing to do with savvy management or smart business plans. You say "According to the Canadian legal system, JJ has been found guilty and punished for his wrong doings. As far as his association with Fr G, that is their business and I don't have any feelings either way on it." I'm sorry Paul, but it's ALL of our business what association Father Gregory has with JJ. It indicates Father Gregory's willingness to take direction from someone already convicted of material wrongdoing relating to THIS STOCK. We gave JJ 8 years during which he manipulated and misinformed the stockholders. We have given Bob Gardner since November of 1998, that's only 7 months and you're already disappointed in the performance. He has steered us away from useless assay, focused energies on recovery, built a pilot plant to prove the validity of the recovery process and enlisted the FREE help of the patent holder of the key chemical in the process we are now focused on. In addition, there seems to be material interest, as reported on this thread and confirmed by Mr. Gardner, by another party in some of the elements found in our ore. Mr. Gardner could not elaborate but he did indicate that the comments on this thread about a company interested in the ore are basically true. While in your opinion, Bob was "partying in the car" I don't agree at all. I spoke with Bob on many occassions during the time JJ was in charge. He was the most knowledgeable person I spoke to as far as who really understood mining, but he was not a decision maker as far as I knew. He could only follow direction and complete the work he was assigned to do. As soon as he took the reigns in November he immediately changed course to what he saw as the better and smarter approach, which was proving economic recovery. Under Bob's direction, we have seen the first recovery numbers ever, and verifying assay just to give them some extra validity. That is material progress and a first for Naxos. The stock price hurts all of us because many if not most of us bought into Naxos during inflated price moves. But the stock price only reflects our emotions, our feelings about the project, not any material difference in what was proven and true 8 years ago, 4 years ago, two years ago or right now. The main difference is that Mr. Gardner has no interest in hyped up news just to move the stock price. Look what happened to IPM, DelGratia, CHIP and others. All victims of too much confidence too soon and none of them with any method of reliable recovery. Paul, you have strong opinions about removing Mr. Gardner and equally strong opinions about getting the help of Father Gregory. It would all make more sense if you have strong material information as to what Father Gregory can do to improve our situation in a material way. He has only two ethical, moral choices. Continue to prove recovery or return to assay. Assay has already proven useless. Bob is focused completely on proving a method of recovery that is economically viable. Unless Father Gregory has been working with another lab and they have made a serious breakthrough, we don't have the money to pursue from scratch yet another direction. Bob has said, this is his last shot at proving recovery. Let Bob finish what he has started. If he fails, then let Father Gregory do what he wants. At that point, I'm sure Bob would gladly let him give a go. Tom F.

To: Paul Salber who wrote (19380)	7/2/1999 2:40:00 AM
From: Scott Corey	Read Replies (3) \| Respond to of 20681

Paul: You conjecture that the Fr. Gregory/JJ connection is possibly that both are "just large shareholders". You go on to state that "anyone who puts forth so much energy to turn this company around has my support". I have a question for you: Do you know, in fact, that Fr. Gregory still owns any shares in Naxos? Does anyone out there know how many shares of Naxos he currently owns? What he owned once upon a time is not relevant. JJ still owes the company a pile of money. I don't know where the $1 million number comes from but, if memory serves, it did start out at over $700,000. Is it not in JJ's best interest to get control of the company, if only to continue to avoid paying this debt? That is a pretty powerful incentive! I am a long time holder of this stock. In my opinion, JJ is nothing but pump and dump and has actively manipulated the stock price for years. It is also my opinion that he made so much money hyping the stock that he never had either incentive or need to produce metal at FL. We all paid the price for that arrogance. Based merely on the known JJ connected shareholders whose shares he appears to represent, Fr. Gregory is certainly not the person I would like to see making decisions for Naxos, either personally or as a conduit for others. JMO Scott