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

To: Lonnie who wrote (7245)	12/14/1997 9:03:00 PM
From: knight	Read Replies (1) \| Respond to of 20681

Lonnie, the following is all I can locate pertaining to the suspensions: <The Vancouver Sun reports in part two of a Naxos Resources series in its Saturday edition that Naxos president Jimmy John and four co-directors were cited by the Alberta Securities Commission in June 1990 for misleading disclosure designed to influence the stock price and for failing to file insider trading reports> It looks like Jones tried to unlock the secrets of FL around 1992 as seen from the following: <Reporter David Baines says that by early 1992, Naxos president Jimmy Johns was convinced there were economic grades of gold and platinum at Franklin Lake, and it was just a matter of finding a metallurgical process to identify and extract the precious metals. In January of that year, he announced an agreement with Klondike Industries to license a metallurgical process for "increasing the recovery of gold and other precious metals at Franklin Lake." Klondike is a BC company whose president and sole director is listed as Harold Jones, a long-time associate of Mr Johns. At the time of the agreement, Mr Jones was also serving as Naxos' chairman. Naxos agreed to pay up to one million shares to Mr Jones if Klondike's work passed muster with Naxos' consulting geologist Michael Sanguinetti. The stock more than quadrupled from $0.50 in January 1992 to $2.31 by April of that year, after Mr Sanguinetti endorsed Klondike's results > FL is a tough nut to crack by the looks of it. Keep in mind that this is all "old stuff". knight