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

To: Rick Nazaruk who wrote (19715)	8/25/1999 11:55:00 AM
From: Tom Frederick	Read Replies (2) \| Respond to of 20681

Rick, Just to clarify, I will assume that when you say "I don't care what's in the ground any more" you mean it doesn't matter if it's Gold, Platinum, Lithium, Boron or, Neals favorite, earth worms. As long as Naxos can derive income from it and it impacts the stock price, it's OK with you. I agree that at this point anyone who is still bemoaning the lost days of $100 shares will not likely be satisfied anytime in the near future. Bob's mention of the US Geologic estimates of $52 million in Lithium back in 1980 does point to a real and verifiable deposit. How big is the total potential reserve along with the other metals? I don't know, and neither does Naxos right now. And I don't know if those reserves mean a $5 stock price potential or a $25 potential. But, I am pretty sure it's not a $100 potential per share, so that is no longer my expectation. Should Naxos at some point come up with an economic recovery process for PM's then it's a new story, but for now, it's not an issue. With any follow up news on permitting and drilling to verify the Lithium and/or Boron and with some confirmation that Naxos has the funds to complete the work, I think this is not a bad risk at todays prices. Tom F.