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

To: Chuca Marsh who wrote (19573)	7/27/1999 7:14:00 PM
From: Laser	Read Replies (3) \| Respond to of 20681

Chuca, I just gleaned this from the latest audited financial statements filed with SEDAR on March 23/99: The Company has a 100% interest in the Franklin Lake Project in Death Valley, California. The property consists of 556 placer mining claims (SKS, P + K, Arcan, and Alkali claims), 201 lode claims (FLL claims) and mineral prospecting permits covering State Lands adjacent to the claims. Production from certain of these claims is subject to net smelter return royalties from 2% to 5%. Advance royalties total $4,000 U.S. per month. Advance royalties huh? Is this what I think it means?