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

To: Henry Volquardsen who wrote (20023)	11/5/1999 5:11:00 PM
From: Tom Frederick	Read Replies (1) \| Respond to of 20681

Henry, I don't disagree with any of your points. These are valid concerns and viewpoints. There is much about the current situation and potential outcome that really is a matter of viewpoint and opinion. The biggest and most critical issue is the value of Lithium and the corresponding potential for the stockholders shares. You are absolutely correct in that we just don't know what it is worth and we won't know till we get the results, the customer makes a judgement of economics and then, if all looks well, makes an offer. Regarding the "grasping as straws" I would venture to say that the years of gold testing was grasping at straws and now there is finally an effort to stand of firm ground and work on logical, economically viable, reliable resources. As far as the reason it wasn't expoited before, I can't answer that. The property that Naxos was looking at in Tanzania was for sale. It hadnt' been exploited yet either. Barrick picked it up just this summer. Why wasn't it producing before Barrick got there? I don't know. For FL, it could have been the the price of Lithium in 1982 was too low to make it viable. For now, I respect all opinions, especially when made with a sense of mutual respect such as yours, but reserve the right to make what I feel are reasonable arguements to look at the current activity as a sound business decision with a good chance for success. We'll all know who was right soon enough! Have a great weekend! Tom F.