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

To: Chuca Marsh who wrote (19611)	7/30/1999 9:46:00 AM
From: Tom Frederick	Read Replies (1) \| Respond to of 20681

Chuca, It seemed to me there were separate entities working on each area. Great Lakes is working on fine tuning the use of bromine in the recovery process for PM's and other materials, Rocky Mountain confirmed the Lithium with COC material, Acme labs now seems to be the lab specifically working on the Boron and I believe the Au is yet another entity. I doubt any news release will make all the remaining posters and stockholders happy. My own impression is very basic. Bob said they were working on proving up Lithium. Bob comes up with COC results on Lithium indicating, initially anyway, economic levels of Lithium in the clays, making it logical to pursue a deeper drill program to see if they can identify Lithium in the brines. As part of the business plan, no matter what anyone thinks about it, Bob wanted to confirm a base resource with quick cash flow possibilities to allow for continuing efforts to refine a recovery process for Gold and other PM's. He has gone to the first step in identifying this resource fulfilling one of his prime business goals. I don't believe this was some kind of "bait and switch" tempting us with Gold news in his letter and now just giving us Lithium results. I think the Lithium news simply came in first, nothing more, nothing less. For now, Bob has done what he said he wanted to do. This is just a first step. We need much more information, but what we have been hearing for some time now, appears to be accurate. There is Lithium and it would seem to indicate that it is in the playa at economic levels. If they can sell this resource, even for only the $52M, we now have cash flow to experiment with the PM's and also give us some shareholder value. We have a way to go before we see any 8 figure checks written to Naxos, but for now anyway, we are heading in a better direction then we have been for a long time now. And that is quantifying a specific resource with market value located on the FL playa. JMHO Tom F.