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

To: sh who wrote (7370)	12/16/1997 3:52:00 PM
From: Kim W. Brasington	Read Replies (6) \| Respond to of 20681

To All: I talked with Naxos management concerning the future testing plans and focuses within the next several months. The following were their responses along with other comments. There has been a process lab added to the two new labs. The primary function of this process lab will be to prepare the material for analysis by the two other labs in conjunction with Ledoux. This will bring a total of three labs performing analysis on Franklin Lake material. As a cross check Ledoux will also receive Chain of Custody raw material that they will process and then analyze. The pilot plant equipment has been ordered directly from the manufacturer. None of the equipment and labs were set in motion until Naxos had preliminary results from Ledoux that they felt confident with. Preliminary testing using the Johnson/Lett process indicate that gold and platinum metal groups (PMG's) can be recovered simultaneously. Naxos is interested in building fundamentals via multiple confirmatory groups. The budget for investor relations has declined over last year's. These funds have been earmarked for R&D. Naxos has not felt itself compelled to go out into the general public at this point to sell itself at great cost, when future results may well do that job far more successfully. Naxos has always welcomed honest scepticism. Many of our present shareholders were once sceptical. Naxos has not deviated from the avowed goal of unlocking the metallurgical challenge of Franklin Lake. Naxos feels confident that the Johnson/Lett technology will materially enhance the company's position. The Johnson/Lett technology may well be amenable to multiple ores. Regards, Kim W.

To: sh who wrote (7370)	12/16/1997 10:23:00 PM
From: knight	Read Replies (2) \| Respond to of 20681

sh, not quite ready to buy just yet, but I am starting to pull for you guys and hope it works out. I must be getting soft in my old age. I'd like to see a second lab verification and I'm really looking forward to the pilot plant test results. If these events look good, I'll mortgage the homestead. I don't mind paying a higher share price if all looks on track. I'll leave the the big bucks to you guys, I'll have to settle for a little less:-) This idea of modifying the sample prep procedure still has me concerned somewhat, but we'll see what unfolds. knight