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

To: knight who wrote (7587)	12/21/1997 10:08:00 PM
From: mark silvers	Read Replies (2) \| Respond to of 20681

Knight, I'm not sure if this answers your question or not. If not, I guess I'll use a "do-over":-) It is more than likely that LeDoux has given naxos numbers in the past on an informal basis(as in not to be released, but here's what we're getting) which naxos has relied upon in assessing the J/L technology. Given that, does it matter which way they have gone about it? I think the premise that naxos is all but committed to J/L technology is a pretty safe bet. I think they thought that the share price would be higher after the release and that they would be able to get the financing done at those higher levels. You are right that the pilot plant was a "go" before the release, as it was announced at the roadshow.IMO, I believe that Naxos knew what kind of numbers Ledoux was getting before that time, but were just not allowed to release it. Therefore the decision to go ahead with the pilot plant would be an easy one. Knight, BTW, I find your use of the word "our" and "we" to be interesting. Could it be that you are a shareholder, or at least interested enough in becoming one to commit that Freudian slip?:-) Mark

To: knight who wrote (7587)	12/22/1997 8:30:00 AM
From: Henry Volquardsen	Respond to of 20681

knight, I don't know what the float is but will ask, if no one else posts it, next time I speak to IR. And yes it's a little safer to come in at 6 than at 8-10. I realize that the investors in the private placement were probably much happier and eager to get stock on the dip. As far as the terms of the agreement between Naxos and Johnson/Lett there were two parties to that negotiation and I don't get the impression that Austin Lett is a bad businessman. I am sure he negotiated well on his side. I agree there probably wasn't an active waiting list for the rights but there WERE othe prospects who could become interesed. Do you think IPM might reconsider after their recent debacle. All in all we'll have to wait and see whether we get certification soon. If we do I am sure we will be moving forward with acquisition BTW should we gather anything from the fact that you have switched pronouns to WE in your side comment? ;) Henry