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

To: Richard Mazzarella who wrote (19633)	7/31/1999 9:48:00 AM
From: Larry Macklin	Read Replies (1) \| Respond to of 20681

Richard, Interesting scenario except that i beleive cuurent mgmt too honest to do that intentionally. I agree that it is right up Jimmy's alley though. Also, how would you explain the ledoux private placement fiasco if this was the Naxos standard MO? Larry Macklin

To: Richard Mazzarella who wrote (19633)	8/2/1999 9:55:00 AM
From: Tom Frederick	Respond to of 20681

Mr. Mazzarella, There seems to be some kind of strange association with high stock price, good recovery numbers and honesty. Exploratory companies are not like an office supply store. In the case of an office supply store, if you have a good location, the right product line and fair pricing, all you need is good service, honest management and away you go. Start building more stores, make an IPO and make investors like us happy with lots of wise choices, honest bookkeeping and a good product line the public wants. In the case of exploratory mining, which is what we all invested in from the start, even the most honest management has no idea if they will even find a product to sell let alone manage it well. Mr. Gardner inheritied a huge mess and since then, to my recollection, has done everything he said he would do. He is now pursuing the only logical course he has which is to exploit a known resource to create cash flow to minimize the need for private placements to allow them to continue the work of coming to a final conclusion as to identifying any method of reliable recovery of precious metals. With all the mud slinging I have yet to see a post which identifies one specifically dishonest thing Mr. Gardner has done. This is a public forum and if there is truth to be revealed let it be so, but if it is venting about lost monies taking the form of pot shots at Mr. Gardners capabilities, and more importantly his honesty, I would think we would all be a little more careful. Respectfully, Tom F.