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

To: GlobalMarine who wrote (7892)	1/8/1998 3:13:00 AM
From: Doug Meetmer	Read Replies (1) \| Respond to of 20681

I believe the press release was positive on two counts. Firstly, It proves that investors were confident enough in Naxos to put in over a million dollars of fresh capital at an impressive $6.00 per unit. Secondly, by extending the deadline to January 21, we are being told that Naxos is very close to making a decision. This bodes well for us, since Naxos would not have negotiated a deadline so close to the present date if a decision by Ledoux (either to certify or not) were not forthcoming in the near future. Further, I believe that Ledoux must be very close to certifying high numbers, because if it were clear that Ledoux would not certify Naxos wouldn't have negotiated an extension at all. The only motivation for negotiating a two week extension is that this certification is all but done and Ledoux is just dotting the I's and crossing the T's to be absolutely sure. I could be wrong on this count if some catastrophic news suddenly came out, such as a salting or some other reason why the numbers shouldn't be believed. I am a bit concerned about the meeting with the ASC on thursday, but I am going to go out on a limb and predict that on the basis of the press release today we should see an immediate pop in the shareprice hopefully by as much as a buck. If I am wrong , I will blame it on the impending ASC meeting causing "negative vibes." Good luck.