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

To: Henry Volquardsen who wrote (7677)	12/29/1997 3:41:00 PM
From: jas singh MD	Respond to of 20681

Good point Henry.<EOM> Sincerely, Jas

To: Henry Volquardsen who wrote (7677)	12/29/1997 3:42:00 PM
From: mark silvers	Read Replies (2) \| Respond to of 20681

Henry While the dilutive effects of the financings are somewhat important, I am wholly unconvinced that there is some "evil cabal" of shorters that has brought the stock to its current levels. I think the real problem is somewhat more mundane. The immediate effect of people selling their liquid shares to buy the PP, and a very short term outlook by most Naxos investors. The short term outlook has effected the share price by creating a lack of investor confidence when the stock price didn't immediately rise after the last announcement. The prevailing "someone must know something" theory led to a lack of confidence and some people taking money off of the table. IMO, the "shorts" have had very little to do with what is going on marketwise with Naxos. This situation is not at all like the one at IPM. IPM had a two year hiatus between results and a history of broken promises. They certaintly did not have a situation like LeDoux labs stating they had gotten 3.0 opt gold and would be conducting short term testing before final certification. Would any shorter in their right mind put Naxos in play from the short side while waiting on a report from Ledoux after that statement? No one would. I'm not saying that they would go long, but they certaintly wouldn't short it with that risk/reward scenario staring them in the face. On a seperate note, I am afraid that I am going to have to post far less often in '98. This has become far too time consuming, and other aspects of my life are suffering because of it. I will only post occasionally when I feel that I have something truly relevant to add. Mark