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

To: mark silvers who wrote (7436)	12/17/1997 9:28:00 AM
From: Jerry in Omaha	Read Replies (2) \| Respond to of 20681

Mr. Silvers; You posted; " I would expect to have certification by mid January, IMO." All right then, your prediction is in. My prediction is a horserace between certification and a facility where five tons of ore goes in one end and lots of precious metals come out the other, day after day. Certification *and* this pilot plant are, IMO without a doubt, the one-two knock-out punches to the jaws of doubt and skepticism, cynical or not, Mr. V. <g> There is simply no getting around the fact that extraordinary claims require extraordinary proofs. What appears to be a new skepticism on my part simply reflects my adjustment to that fact, certainly not an indication of a shaking of faith. What is occuring now is precedent setting; it never has had to be this way before. Naxos and Ledoux are not just going the extra mile here, they are going the extra marathon! If certification comes our way by mid January Ledoux will win the horserace by three lengths. If the pilot plant is close to being in production by mid April and Ledoux still hasn't certified by then, they will be neck and neck. But let me tell you when both those horses cross the finish line we'll all be winners except the shorts. So, that's basically all that I'm saying. Before the market will be convinced beyond a shadow of a doubt, and we can all breathe a collective sigh of long overdue relief, both certification and proven economical recovery must take place. It's anybody's guess how long it will take for either event. So I guess we will be seeing erratic stock prices for some time unless preventive measures are put in place, but I have no idea what those could be. Here in the waning days of autumn as my thoughts already anticipate next spring, I am hoping it will be a short, sweet, Ledoux certified winter! If only hibernation were an option. Jerard P

To: mark silvers who wrote (7436)	12/17/1997 9:43:00 PM
From: sh	Read Replies (1) \| Respond to of 20681

<As far as certification, maybe people feel as i do, that by Ledoux's mentioning the numbers publically, that is almost as good as certification.> Mark, unfortunately, that is not the perception of the market as is clearly reflected in the stock price. Even before the release, the price of the stock was much higher based on speculation on results even lower than the uncertified numbers we got in the release. While many proclaim they don't care what the current stock price is, to me it clearly reflects uneasiness in the market about the uncertified results and that is a concern. Why? Because I in fact have no idea what is the actual reason for Ledoux's reluctance in immediately certifying the numbers. I certainly have tried conjecturing about the different possibilities but the fact remains I have no idea. The market clearly is also uncertain and is taking it as a negative sign. Although I agree with you that Ledoux's mere agreement to let Naxos release the numbers indicates its confidence in their reliability (there may even be some legal recourse against them for allowing the numbers to be released in such an ambiguous manner if things turn sour), I fully admit that that is mere speculation and that I can easily be wrong. We have very sophisticated mining investors in the market who are apparently not willing to get in at this point and their apparent concern concerns me. The stock price reflects investor confidence and while many variables are associated with that, until the price begins moving up I remain jittery too. I suspect Naxos is also concerned since we are seeing more activity by Naxos representatives on this thread. I'm not suggesting anything is wrong with that -- I believe it's a legitimate attempt to soothe the concerns of the market until we can get certified results. Despite my unease, I happen to trust people involved in the company and much of my continued involvement in the stock is in large measure based on faith in their integrity. After all, the Johnson Process is apparently achieving excellent, consistent results when done by Dr. Johnson. Unless he's a fraud or something is really wrong with his process that he cann't even figure out, there's a tremendously significant amount of gold and platinum in FL (again, assuming the property is as homogenous as many believe it is; also with the apparent high concentrations of PM's, the extraction costs should be economical). Without going on and on, the point is while there are many factors that give me confidence in the viability of this company, market reaction is also a concern. If it improves, I'll be very much relieved.