To: Kim W. Brasington who wrote (5877 ) 11/24/1997 1:05:00 PM From: Hans Smedema Respond to of 20681
Kim, Just wanted you to know, I like this thread very much. More a lurker, but wanted you to know I have indeed visited Naxos when I travelled from Holland to the IPM AGM. We had a look on the property and I made some pictures, saw Chip too. As you are posting some older messages, I looked up an old one too. Think it is nice to repost it,it is from end of jan this year I think. I placed it on Compuserve too, here it is: ********** Just for the fun and to give another view to the current problems with IPM, here is a message I placed early this year on this forum and on SI. It's making fun of the ASE hearing, making it a bit ridiculous, and as we now know I was right on! BTW 1, to make sure everyone understands, all 34 of the allegations by the ASE were later redrawn, only one did stand up. It was because Naxos refused not to release information as demanded by the ASE, but it had to issue due to the Nasdaq rules and of course normal integrity to the shareholders. BTW 2, Naxos went to 0.75 US$ after this stupid PR, from 8.50 CND$ ************* I just received a PR through canada Stockwatch from the ASE concerning Naxos. The ASE is still month's or even years behind reality. A Ms Patricia Johnston of the ASE reports that the ASE has issued a notice of hearing dated January 22 1997 against Naxos Resources and its president, Mr Jimmy John. The hearing is scheduled for March 12, 13 and 14, 1997 at the offices of the Exchange in Calgary. The notice of hearing alleges, among other things, violations on the part of Naxos and Mr John of exchange requirements in connection with the issuance of numerous press releases disclosing significant concentrations of precious metals on samples taken from the Franklin Lake property which results have not been replicated or verified by consultants retained by the exchange for that purpose. Further the ASE states that several standard fire assay tests conducted by independent laboratories disclosed that the concentrations of gold on samples taken from the Franklin Lake property were significantly lower than the previous results reported by Naxos. Additionally, there was no evidence of concentrations of platinum group elements present in such samples. The ASE has also alleged that by the issuance of press releases dated December 20 1996 and January 20 1997, Naxos and Mr John directly contravened exchange policies which require the pre approval of any non-conventional fire assay testing procedures and the disclosure of standard fire assay testing results contemporaneously with precious metal results obtained using non-conventional fire assay methods. At the hearing of these matters, the exchange will seek an order delisting the securities of Naxos from the exchange and an order prohibiting Mr John from acting as a director, officer, insider, promoter or investor relations consultant for or on behalf of any company listed on the exchange. And to make sure everybody understands the bureaucracy we are fighting against, here is the same, but '_slightly_' different: I just received from someone close to the ASE a rumor that they are planning to issue the following PR. This could be wrong of course so don t sell or buy any shares without doing your own DD!!!!!! A Ms Pet Dontknowathing of the ASE reports that the ASE will issue a notice of hearing dated January 31 1997 against Nasa and the president of the USA. The hearing is scheduled for March 15, 16 and 17,(just after Naxos) 1997 at the offices of the Exchange in Calgary. The notice of hearing alleges, among other things, violations on the part of Nasa and Mr USA President of exchange requirements in connection with the issuance of numerous press releases disclosing that in fact NASA has put people on the moon, which results have not been replicated or verified by consultants retained by the exchange for that purpose. Further the ASE states that several standard tests conducted by independent aeroplanes disclosed that it is impossible with a plane to go to the moon. Additionally, there was no evidence of concentrations of air necessary for a plane to go to the moon present in samples taken outside the atmosphere. The ASE has also alleged that by the issuance of press releases dated December and January of some year, Nasa and Mr USA President directly contravened exchange policies which require the pre approval of any non-conventional testing procedures and the disclosure of standard testing results contemporaneously with results obtained using non-conventional methods. At the hearing of these matters, the exchange will seek an order delisting Nasa from the exchange and an order prohibiting Mr USA President from acting as a director, officer, insider, promoter or investor relations consultant for or on behalf of any company listed on the exchange. **************** ROFL, we know how this ended now, full Chain Of Custody prove of 0.25 oz/t. by Behre Dolbear and Le Doux, both international recognized companies. Much looking as the IPM situation now isn't it? Anyway I wish all here on this thread well with Naxos, I am a shareholder of course. Also into GPGI. Hans