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

To: HungryLion who wrote (6418)	12/5/1997 1:56:00 AM
From: Doug Meetmer	Read Replies (1) \| Respond to of 20681

HL, First of all, I do not believe you should be telling me that I "don't have a clue" when you have no idea who I am or what I know. Certainly I could elect to say the same thing about you, since your multiple posts on this thread demonstrate you have at best a rudimentary grasp of the history of this company or even of the events of the past year. You do make a valid point that Ledoux has not performed chain of custody on Franklin Lake samples. That is precisely why BD was employed-to remove the element of uncertainty regarding the COC. If the COC is intact, as it should be given that BD supervised the drilling and the transport of the samples, then we should then look to the next step-the testing of the samples. If Ledoux certifies high grade numbers on the BD samples, that should be more than enough to dispel our concerns, at least about the presence of gold. Otherwise, we are to believe that either BD or Ledoux is fraudulent in some way. While that is certainly a possibility, it is low down on the differential. Ledoux has been working with Naxos for quite some time now. Since Ledoux is a well known lab and has a certain reputation to protect, I doubt that they would agree to continue working on a project if they had any evidence of fraud. You might make the argument that they could turn the other cheek, but I would doubt that. Regarding Johnson, Lett, White, and others, perhaps they don't really have a good grasp on what they are doing. Sometimes things work out for the wrong reason. In any event, given that these people have been to Ledoux labs and worked with Paul Blumberg, and Ledoux is still interested in working with Naxos, I can safely assume that whatever it was that these people demonstrated to Ledoux was significant enough for Naxos to make a significant offering to Johnson for licensing of his methodology. This was done at the recommendation of, guess who, Ledoux. Something in the procedure must have made sense to Paul blumberg or he wouldn't have recommended to Jimmy John that they license the procedure. If that is not enough for you, do you really think that high grade investment bankers such as Allen and Co. would have ever gotten as far in negotiations as to actually put a deal on the table, if there was even a whiff of a scam? Not likely. Listen, I have my own reservations about Naxos and I might just lose all my money but I was in this when the stock was halted, still in it when the stock was $.75, and now I am still in it at $8.50 on the way to the teens. You can short Naxos, buy it, ignore it, or whatever it is that you do but if you are going to trash Naxos then at least have your facts straight when you do so. Otherwise, myself and anyone else who has followed this company will easily be able to dismantle your arguments as well as your credibility. -DM