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

To: Richard Mazzarella who wrote (19674)	8/9/1999 9:38:00 AM
From: Tom Frederick	Read Replies (1) \| Respond to of 20681

Richard, I believe you may have a point regarding the bottom. With the release of reasonably reliable information on the possible resource of Lithium and Boron, the trading price and volume may be reflective of a "risk" investment price for the Lithium and Boron. If we get a genuine deal from a customer to buy either of these resources, then we will see a price that reflects that deal, but $0.19 or $0.20 may be a fair bottom price for now. It will hold up if we don't wait too long for follow up information on more testing or more clarification on the "interested parties". If you were to look at Naxos TODAY simply as a piece of land with potential for recoverable resources, forget about the history, with reasonable information pointing to Lithium and Boron in large volume, with possible other rare earths and a long shot at PM's, it is not a bad investment for the risk portion of a portfolio. It's not a done deal by any means, but at least these resources do not appear to be the same problem as the PM's to find and identify. Tom F.