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

To: Tom Frederick who wrote (7910)	1/8/1998 8:36:00 PM
From: B.D.Bauden	Respond to of 20681

"3 X 2 billion = 6 billion ounces" Tom, I don't know if FL has as much gold in it as you have speculated, but I wanted to try and put this number in perspective. If you took 6 billion Krugerans (a 1 oz South African gold coin) and stacked them one on top of each other, the pile would be about 12,000 miles high. Bruce

To: Tom Frederick who wrote (7910)	1/9/1998 8:02:00 AM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 20681

Tom, 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 market is not going to give you full value for those reserves. Once you get total reserves you have to determine what annual production will be and get an estimated mine life. You then have to spread those reserves out over the life and discount them back to the present. There will also be a further discount because of the added market risk while the reserves are still in the ground. Henry

To: Tom Frederick who wrote (7910)	1/9/1998 9:36:00 AM
From: Random Walk	Read Replies (1) \| Respond to of 20681

Tom: Don't stop there. Once the J/l "merger" is completed, all the other dirts that "prove" .07 opt will scramble to become our minority partners. IPM, GPGI, CHIP etal. The stream of virtually riskless revenues is astounding. Recurring revenue (see Mcdonalds, Nike Kodak, Coca Cola) Mind you, I'm not calling Naxos a Dow stock, I realize we have a long way to go. However, our fantasy may approach a reality as the tale unfolds. Throughout time junior mining stocks esp. in the desert have cried "wolf". People have listened and have been burned. We need credibility in a monumental way. You don't get credibility with a press release titled "Ledoux reports" high values esp from only 15 ft of ore. We need Ledoux certifies. You don't get credibility with ASE issues unresolved either. Certification. Confirmation. ASE resolution. Electronis trading. Plant production. High brow financing. J/L "merger". Then your will see hyper growth sustained. Stay in touch! Random Walk