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

To: Rick Nazaruk who wrote (7087)	12/11/1997 8:30:00 PM
From: GlobalMarine	Read Replies (1) \| Respond to of 20681

Rick: Overall, the sentiment to gold, gold stocks and DD stocks is poor. The Asian meltdown has affected Wall St., witness today's (and tommorow's, judging by Globex quotes on S&P and NDX100 futures) stock shellacking .It's possible some people are worried about a proposal to delist BB stocks that don't fully report (note that a non-reporting company that starts to report gets to stay on the BB). Ledoux has yet to certify results too. All in all, a difficult environment to operate in, and I'm not surprised that the stock price didn't go ballistic today. Heck, yesterday I predicted $8 1/4 on the close today. But look on the bright side, from $7 to $8 1/4 is 18% in a day; that's a tad better than a savings account, wouldn't you agree? Rand

To: Rick Nazaruk who wrote (7087)	12/11/1997 8:42:00 PM
From: kenneth w. calligar	Read Replies (2) \| Respond to of 20681

To All: Regarding today's trading- there was a pre-open bid of $9 with at least one MM. Then at the open I saw 15,000 shares offered at $9 on Instinet- a fairly unusual size. Simultaneously there seem to have been a couple like-sized offers shown to dealers. This probably served to halt the stock's momentum even before it began. When offers began to show under the $9 they were quickly taken but that 15,000 kept showing on instinet. Maybe someone was trying to keep a cap on the stock in order to buy? IMO this is a crazy price for this stock given the added assurance provided by this report. The reward/risk ratio has clearly been skewed upward by this development. Along this line, has anyone seen a new report from David Snow? I was told that he had issued a new report today that repriced his target from $ 17,500 to $75,000 per share. I swear this is what I was told by a usually reliable person. Thanks in advance for any response, I've got to run. P.S. bought today at $8.625. KWC

To: Rick Nazaruk who wrote (7087)	12/11/1997 8:53:00 PM
From: Jan A. Van Hummel	Respond to of 20681

Rick, Here is my take. Naxos has been trading in the $5-$10 range based on the promise and anticipation (based on past information) that FL has a considerable, extraordinary presence of PMs. When that announcement was made the stock rapidly left the $1-$3 range and got propelled in that $5-$10 range offering a rapid 400-500% return for many on this thread. What was promised with the announcement a few months ago was confirmed yesterday, not too much more. So the promise was delivered and the anticipation met. Don't have to tell you if the results with the new methodology would have come out at e.g. 0.5 opt. Still extremely respectable but I think we would be trading a lot lower today. Now, had they also announced for instance a presence of 1.2 opt of platinum you would have seen a different story today, because that would have been a major surprise on the plus side. Current shareholders all are taking greater comfort in that their investment may be less risky than they thought 26 hours ago. However, as a group there is probably less buying power at this stage. To drive the stock price higher you need fresh buying, new investors, but it takes time to win them over and make them feel comfortable. It is one thing to buy a stock for $1/share, quite another if it has to be $8 or $10/share. recently, we touched on $10.50 but it went down to below $6. Imagine you were the one owning the stock at $10.50 how would you have felt? Certainly not as comfortable as those long at $1 or $2! If, e.g., you had bought at $8 you might have been tempted more to sell today at $9, than if you owned it at $1. So, there are many aspects to the why's. Just bear in mind, if they had never advised the early first stage (COC) and non-COC second and third stage results, IMHO, Naxos would have unlikely broken out of the $1-$3 range. Just MHO Jan

To: Rick Nazaruk who wrote (7087)	12/11/1997 10:05:00 PM
From: RRG	Respond to of 20681

Rick: Last night everyone was in "euphoria land", and the realities of the long road still to travel were forgotten----- which is not all bad. After all, we were all blowing off some anxieties. But, excepting manipulation, the market does not lie. The market was saying, "Great news--but certification is needed, and before we start placing astronomical values on Naxos, we better see a recovery process that works. And if it does, and if it is as economic as stated, you won't have to worry about the price of your stock. It will make most of you rich. But there is a long way to go.

To: Rick Nazaruk who wrote (7087)	12/12/1997 6:05:00 AM
From: Henry Volquardsen	Respond to of 20681

Rick, as others have said the market stinks for precious metals stocks at the moment and DDs don't have a very high profile. The market in general was not to hot either. Also it appears the Dow newswire never picked up the story. So by and large the people who saw the release were the ones already watching it. Also COC without certification may be an issue but that will be resolved. The way I have found to cushion the emotional impact of trading a stock at this stage of development to keep it at the forefront of my mind that this is venture capital. We are not going to get day to day validation from the market. Very few people are aware of what is happening. We are watching the building of a business that will add significant value and it is best to keep our sights focused on the long term. Remember the Field of Dreams, build it and they will come. Don't sweat the short term, it's making progress towards the long term viability of Naxos where the real reward lies.