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

To: Tom Frederick who wrote (20022)	11/5/1999 4:56:00 PM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 20681

Tom, thanks for the review. personally I have a difficult time getting too excited about this yet. For one thing I have no knowledge of the lithium market or what the potential profitability might be. And at this point there may be lithium there but we have no idea of whether it is economical or not. Al 5 of your points are related to the development of lithium and until we have a third party assessment of the economics we have no idea of the value of any of those points. Apparently there have been some 'whispers' about the potential economics. Considering this is Naxos I get very nervous about any and all whispers. As far as there being no attempts to hype Naxos over the last 6 months, I disagree. I think there have been several attempts to rally the troops. Unfortunately the troops have been so soundly abused by the market they are well beyond rallying. Whether this is a reasonable or logical attempt to produce value is perhaps a matter of opinion. You think it is logical. Others may see it as a company that failed at their previous efforts grasping at straws. Until someone clearly explains the economics of lithium production I remain skeptical. You point out that the US Geological testing showed lithium. Considering that, I believe, these leases were previously under development why didn't they exploit the lithium. But my biggest skepticism comes from the economics of the company. As we have discussed in the past, Naxos is busted. They have had to raise funds at these loe levels plus I suspect we have had to cut some very attractive deals for our partners in the lithium venture. How much has this diluted our interest? And finally my biggest reservation. We still have the lunatic fringe true believers involved in this stock. My biggest concern is some of the large shareholders and shareholder groups. Henry