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

To: Steve Skapik who wrote (6434)	12/5/1997 12:59:00 PM
From: Jerry in Omaha	Respond to of 20681

To All; Mark Silvers is alive and well and trying to get an earlier flight out. The thread scout has reported back and I'll do my best to relay his information to you all. He has no access to the net or he'd be here himself. He was very impressed with Dr. Johnson and that feeling was universally shared by the group. Dr. Johnson spoke of the company growth and enhanced management at all levels. He had heard no news of us here on the thread either and I did what I could to let him know about what has been posted here. Equipment for a five ton per day operation has been ordered and a 16 week time frame was mentioned. Everyone shares in the frustration of waiting for numbers from Ledoux and he had nothing substantial to add to our current information about that situation. The group is at CHIP today. He did manage to scout up one bit of information that he thought we might like to hear. He was talking with one of the members of the Barry Downs tour who said, "The Johnson process is head and shoulders above every other technique that we have seen on the tour." I gave Mark some hints on where to find internet access when on the road. He may get a posting out this afternoon. He certainly will be on before the day is out. Hold your questions for him if you wouldn't mind. We did our best in the short conversation window he had available. Mostly he indicated that the show is going on and basically there's nothing to worry about. I told him about his MIA status and he probably is gunning for response quips targeting Mr. Volquardsen, the scourger of bonds-men. Jerard P

To: Steve Skapik who wrote (6434)	12/5/1997 1:03:00 PM
From: Henry Volquardsen	Read Replies (2) \| Respond to of 20681

Just spoke with Mark. Bad news first. No news on when numbers will be released. On the positive side there were a few points. 1) the company has pruchased equipment for a 5 ton per day processing plant. they "expect" delivery within 16 weeks. He emphasized expect. Dr Johnson said that once the equipment was on site it would take a few weeks to get it up and running. They would then bring in outside mechanical engineers to observe a 100 ton processing run. He referred to this as a kind of assay of production. Late spring appears to be the timing for this. Meanwhile the company will continue to work with Ledoux on numbers. 2) Mark was observing the Barry Downs led group of geologists, analysts and news letter writers as Dr. Johnson was speaking. He said Dr J was very impressive and that many of the group "had their mouths open and nodded in agreement. He spoke to one after the presentation who said he had seen all the processes and the Johnson-Lett process was superior. 3) Mark spent about a half an hour in a one on one discussion with Lett and was very impressed. 4) For those of you who have been negative re Naxos management, Dr Johnson spoke about what an excellent job current management had done to bring the firm to its current position BUT that as the firm grows it will clearly be necesarry to bring in established high profile mining people. Jimmy John was on the dais at the time and appeared very comfortable with that statement. This is what I got from Mark. The lack of a news release is a problem and will hurt the stock near term. The 5 ton a day plant is good news but won't give us any near term help. The rest of the information is interesting and I am glad to have Mark's opinion but will have little impact on the stock. If like us you believe in the honesty of these people it supports your view. If you believe it is a scam it is just Mark and I being taken in and helping to hype the stock. Rational people can disagree.