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

To: Lorne S. C. who wrote (5837)	11/22/1997 8:34:00 PM
From: GlobalMarine	Read Replies (1) \| Respond to of 20681

Lorne: I've thought about that for platinum and palladium from the very beginning: 1) From the 1996 annual report of Stillwater Mining as well as an April, 1996 interview with Charles Engles, former CEO, total world production was about five million oz of platinum, but world demand was about 5.5 million oz. The shortfall is made up from Russian strategic stockpile sales. Palladium sees 4 million oz in production but 6 million oz in consumption. 2) If Naxos builds a pretty decent-sized mine, say, 10,000 tons a day and runs it, say, 240 days a year (5 days a week and 48 weeks a year), we're talking 2,400,000 tons year head ore. Look at the yields we seem to be getting, and that's a lot of platinum & palladium that will come into supply. Of course, it'll take years to get mine permits and construction and demand may be higher then, but still. There's a flip side. The fact that there's lot of platinum and palladium in the ore may help us get mining permits because it is good for the world environment to have low platinum and palladium prices (e.g. catalytic converters, fuel cells, etc). Plus, lots of new uses can be found for the metals.

To: Lorne S. C. who wrote (5837)	11/22/1997 8:54:00 PM
From: Missy Link	Read Replies (2) \| Respond to of 20681

I have to believe that the length of time to develop these numbers can only be positive. IF numbers are even close to IPM's we will still be waiting. The volume on friday tells me someone knows something and it is going to be impressive. What bothers me is others know but we get zip. Kim, a hint right now would be appreciated. As to the possibility of the Naxos cartel, why not. If we have the most let us regulate how much to mine and sell. It certainly has worked for the oil producing countries. I certainly don't see gold returning to $150/oz but if we have a few hundred million ounces we all are still sitting pretty. Who else will be able to produce gold at our costs. Didn't the US have a pretty good oil economy at one time? It took Texas over a decade to recover from that loss. Call it global economy, and if the implications are going to be too great then we better get out before we go into production. Some group will try to stop us or buy us out.