Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: GlobalMarine who wrote (5871)	11/30/1997 2:18:00 PM
From: Tom Frederick	Read Replies (1) \| Respond to of 20681

Rand, thank you for your kind words. My goal all along here has been to share what I have learned from my own DD and try to keep our spirits up through the very curious route that Naxos has taken over the last 7 years. Yes the market will certainly give Franklin Lake a value right off the bat. Just consider a few things. 1) We already have COC in the range of .21 total gold equivelant and NON COC in the range of 3 OPT gold equivelant. 2) The above tests were done on SRK WASHED samples using previous methods of assay that are reported as being less effective than the final Johnson Lett methodology. 3) IF you trust that the NON COC tests were done on reliable ore and that NON washed ore would produce better results and the improved methods of assay and recovery will produce better results how much more could be taken out of the ore body? Another ounce total? 4) If only 10% of the property (of 2.5 billion tons) produced at 3 opt Franklin Lake would have the potential of 750 million gold equivelant. 5) In fact, as you point out, bedrock goes far beyond 250 feet and due to the nature of this ore body (claylike material with high concentrations of water) it is VERY logical that the densities of metal rises at you go deeper. All and all, Wall Street will have ALOT to think about once these new numbers come out. I have great confidence that the time spent by Naxos on testing and retesting over the last few months has been to improve on numbers so the next release has all the potential to surprise us all. I believe that the South Africans can preserve their future very easily. Start looking for dry lake beds that are the result of millions of years of volcanic activity pouring into a valley which was damned up, filled with water and gave PM laden sediment a place to sit for someone with the tanacity to prove what is there. Hang in there. We can't be far away now!!! Regards, Tom F.