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

To: jlallen who wrote (20013)	11/5/1999 1:23:00 PM
From: Tom Frederick	Read Replies (1) \| Respond to of 20681

JLA, Neal, Henry, The key differences today vs. the previous Naxos opportunities squandered are as follows. 1) There is unbiased testing information that Lithium is in the brine (US Geologic testing) vs. unknown testing methods from several questionable labs and little verification 2) There is current testing verifying the Lithium on the surface and in the clay 3) There is a customer (one of the two main suppliers of Lithium worldwide) interested in the property vs. we never had a real customer interested in FL resources 4) The potential customer as well as a specific resource expert on Lithium overseeing the drilling and testing of the brine vs. little third party verification in the past using a method of testing for which there was NO expert 5) Regardless of what Naxos can or can't do, the customer is going to be darn sure to get this done if they need a new Lithium source and FL looks like it might be it vs. it was always up to Naxos alone to supervise, produce, verify. As I have been saying, my confidence is based on the above issues which create a scenario that indicates strongly that there should be lithium there and the program is being overseen by experts highly motivated to know the absolute truth about the brine watching both drilling and testing to be sure it is done to industry standards. In years past, Naxos has been playing with black box testing off in the corners of the industry with no potential customer watching to be sure the tests are done to their satisfaction. Logically, if the customer watches the drilling, does the testing, and is interested in the resource, then if the brine tests high enough concentrations to make it profitable, there is very little Naxos can do the mess up a possible offer. (Other than not getting the very best deal) My support in the last 6 months has been based on a simple truth. Bob Gardner has come through with all the things he said he would do. We have seen no effort to hype the stock or create false expectations. We have seen a reasonable and logical approach to go after a much more modest goal of recovering Lithium with the intention of attempting to create a valuable resource which in turn keeps the doors open and gets Naxos back off the floor. I am NOT implying that the dream of $10,000 shares has any place in the discussion. It was a wild dream to start with and it was based on wild assumptions which we now know were based on highly questionable testing methods. And I was sucked into that at the time, as were many of us. As a risk investment, I currently believe that at todays prices, Naxos offers a reasonable opportunity for a very nice return IF the brine has the Lithium they are looking for. If there are additional recoverable elements, great. But my yardstick for success, is really based on a good deal for Lithium. It's really that simple. I don't drag along the history any more because I don't think this management has followed the old methods. We have people left who genuinely want Naxos to succeed. And I wish then luck. Tom F.