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

To: Tim Hall who wrote (19632)	7/31/1999 7:56:00 AM
From: Richard Mazzarella	Read Replies (2) \| Respond to of 20681

Tim, there sure is something strange going on IMO. I keep asking myself how can a company be as incompetent as Naxos. It disappoints, creates uncertainty in spades, and acts like a chicken with its head cut off. Why? It's so inept that I'm beginning to suspect the apparent confusion is engineered. You've said many times when looking for motive with the dirts "follow the money". Where is the money? Well, one can create wealth by driving the stock price down (short?), buying cheap converting warrants in a PP, and then selling everything higher. Naxos has sure driven the price down. It even announced options and warrants at $0.50. Now all they have to do is get the stock price up in ~1 year. If JJ was still at the helm I would give this scenario an ~98% probability. However the present crew may in fact be truly inept and only warrant an ~30%. <VBG> I know this sounds way out, but then lots of things in the dirt have been way out. Thoughts?

To: Tim Hall who wrote (19632)	8/2/1999 9:36:00 AM
From: Tom Frederick	Respond to of 20681

Mr. Hall, Release 98-5, Dated March 12, 1998 Certified assay results from two nationally recognized labs. Ledoux and Rocky Mountain Geochemical. Samples taken and tested by both included the following for Au: Hole 4, depth 20 - 50 feet Ledoux results .082, RMG results .02 // Hole 5, depth 150 - 175 feet Ledoux results .082, RMG results .108 // Hole 5, depth 305 - 330 feet Ledoux results .07, RMG results .06 Release #98-12, Dated April 24, 1998 Announces Certified standard lead fire assay results for gold on chain of custody ore. Ore was drilled by Behre Dolbear and submitted to Colorado Mineral Research Institute for processing under chain of custody. Results were out of Ledoux labs (These are the results Ledoux has continued to stand behind) ranged from .047 Au to .184 Au. Not to fill this up with lots of detail, but all of the following releases also indicated varying levels of Au, all COC material, all certified results and mostly from Ledoux Release Dated April 8, 1998 Au from .225 to .439 Release 98-14 Dated May 14, 1998 Release 98-18 Dated June 11, 1998 Au from .079 to .149 I do not have copies of the older releases from Ray Steele and those early days when we also had other assay tests done from other labs. But as far as I am concerned, I can't believe that Ledoux spent that much time making that many mistakes finding gold with their reputation at stake. I don't know if we will ever get a satisfactory answer as to what happened at the end, but for CMRI to come close to the Ledoux numbers, acting as a verifying lab on COC ore offering certified results, we have good reason to believe that the metal is there. As I have said before, what we still don't know is if there is a viable method of economic recovery. THAT, I agree, we don't know and THAT we don't have any verifiable testing on. Tom F.