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

To: Tom Frederick who wrote (7787)	1/3/1998 11:52:00 PM
From: knight	Read Replies (1) \| Respond to of 20681

Tom, I just have to disagree with the ASE/Baines conspiracy theory. Baines was writing a series of articles at or about the same time as the ASE request for assay clarification. God knows, Baines can do a number on a stock, but I doubt he is in collusion with the exchanges and the securities commissions. There might be a "knee-jerk" reaction to his articles, but that's about all. The ASE is also home to quite a few oil and gas juniors, I don't think that junior miners make up 90% of the board. I think the charges were dropped as a result of a mutually beneficial agreement between the the two parties to avoid court costs and publicity. Naxos had filed defamation suits against several ASE officers, maybe both parties decided it was in each others best interest to cut a deal. I guess my point is that one shouldn't read too much into the ASE delisting. The bottom line is that the ASE has a standard for reporting assays and it is applicable to all companies. Whether this standard is proper or not may be open to criticism, but God knows, they have had a few embarassments in the past and shouldn't be faulted for trying to better their policies. I still feel it would be better to forget the assay duplication procedure and focus on the pilot plant phase. This coming 1/4'r should be very interesting indeed; a turning point for Naxos and the FL story. Looking forward to it. knight