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

To: jas singh MD who wrote (7676)	12/29/1997 3:20:00 PM
From: Henry Volquardsen	Read Replies (2) \| Respond to of 20681

Jas, I hold the same long term view as you do. However there is a reason to be concerned by the activity of the short sellers. NAXOF will need additional financing in the year ahead in order to fully exercise the option on J/L and to go into full production. If the shorts keep the price down in the near term that will make these financings more dilutuive. Henry

To: jas singh MD who wrote (7676)	12/29/1997 7:35:00 PM
From: GlobalMarine	Read Replies (2) \| Respond to of 20681

Jas: IMO, I think everyone should care about the current stock price, short sellers or not, because at any moment in time, the bid represents the realizable value of said shares. Even if one has a long-term horizon, one still wants maximum value of said shares in the short run, because your current wealth is represented by the current stock price. Why is this important even if you have a long-term view? For instance, supposing tomorrow one has a car accident and must sell Naxos shares at the then market bid price to pay for medical and rehab bills. One would obviously desire a higher stock price as opposed to a lower stock price. Given that we don't know what's happening at Ledoux, we naturally look to the stock price to provide clues (however speculative and imprecise they may be) as to what the real deal is. This is especially so since the stock price action has tended to precede fundamental news this year. I'm sorry if I sound cautious, but IPM made me do it! :o) Rand