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

To: Random Walk who wrote (7903)	1/8/1998 4:01:00 PM
From: GlobalMarine	Read Replies (1) \| Respond to of 20681

<<It's a shame that most investors will be willing to sell their shares to the institutions at a nice profit. Me, I'll wait for the dividends!>> Well, as an IPM victim, I can understand why some people would want to take the money and run. When NAXOF crashed and burned to $1 this year, I'm quite sure that some people who had bought at much higher levels didn't want to risk revisiting $1 after the runup these past months. I think the stock's much more likely to revisit $10 than $1. Rand

To: Random Walk who wrote (7903)	1/8/1998 7:24:00 PM
From: Tom Frederick	Read Replies (3) \| Respond to of 20681

RW, you bring up a very important point regarding willingness to sell at lower than real value prices. As of now we are all waiting for the other shoe to drop from the lab and also the confirming results from additional labs. If the only thing the lab can do is reproduce 3 opt on gold lets just quick do the math. 3 X 2 billion = 6 billion ounces At a cost of $150 per ton on the high side, that is $50 per ounce. $50 from $300 rough is $250 profit per ounce $250 X 6 billion = 1.5 Trillion $1.5 asset divided by 40 million shares is almost $4,000 per share. The three stages of deposit proof are inferred, probably and proven reserves. At inferred, the market generally values the stock at 25% of inferred value, at probable 50% and proven 75%. If the best we do is inferred with a minimal drill program, the stock will value at around $1,000 per share (25% of $4,000). With this in mind who in their right mind would sell at $100 or $200? If the 3 opt is certified the rest is math so there is really no guessing "yeah but what is it REALLY worth?" The likelyhood is that there will be gold AND the platinum group proven up, that the deposit size is significantly MORE than 2 billion tons and that recovery will proven up BETTER than 3 opt. So what could this deposit REALLY BE WORTH? A heck of alot more than a few hundred bucks per share. I'm with you. I want to hang in for the recovery and drilling so that this property can show the world what an enormous treasure it has been hiding for millions of years. To the rest of you, DON'T SELL CHEAP!!! There is a fortune there and we deserve a fair price for supporting this grand venture!!! Regards, Tom F.