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

To: Kim W. Brasington who wrote (8100)	1/14/1998 1:29:00 AM
From: Doug Meetmer	Read Replies (1) \| Respond to of 20681

Kim, Can you clarify for us what the rules are regarding foreign companies that are traded OTC? Naxos really isn't on an exchange, and I would like to know exactly what must be reported to the SEC. If the insiders are required to report, then there must be some public documents available now showing insider trading in the last year. I personally haven't seen any, and I know that Dow Jones reports these on their wire service when they become public. Since I subscribe to Dow Jones, I already looked into this and found nothing. I can easily track insider info for US companies that trade on an exchange but I am not convinced that it is so easy to do for Naxos. Please clarify. Also, regarding ACTUAL transactions by insiders, didn't we already determine that Jimmy John made something like 1000 trades a couple of years ago, with a net increase in shares indicating he was selling at market to buy stock options? To cut through the fat what that really means is that he is selling high and buying low and still maintaining his shares. He is profiting from the stock by trading the stock, which is exactly what I would expect anyone in his position to do, regardless of whether the playa is a field of dirt or the richest gold deposit in history. I would also expect that anyone on this thread who bought stock at $1 last summer would be selling at this level, because there is a good chance we will be trading lower at some point in the future. I would do it myself if I actually bought stock at that level but I am not as good at timing as others are. Take care, Doug

To: Kim W. Brasington who wrote (8100)	1/14/1998 6:42:00 PM
From: Neal davidson	Respond to of 20681

Kim: It is great to see you posting more on the thread. This is not intended to defend Doug, as he can certainly do that for himself...But I do specifically recall that Naxos has been identified as a "non-reporting foreign" company. In fact, I thought that was the reason that Naxos did not truly trade electronically. So I would be curious exactly what the reporting requirements would be for sales or purchases by insiders. (By the way, if I had gone months without pay and had a family to feed, I certainly would sell some too...I would not blame anyone who has been working for options instead of money to sell some stock.) You mentioned that you are not considered an insider...could you tell us who is and is not considered an insider? For instance, are the IR reps insiders? If you are not an insider, yet you were subject to the blackout on trading, could you tell us who else is not an insider but was subject to the blackout? Will those non-insiders be reporting their sales to an administrative agency such as the SEC? Finally, I must be forgetting the substance of a prior release, as I was surprised to read that Ledoux had certified platinum numbers. Could you please refer me to the release which makes mention of that. Thank you.

To: Kim W. Brasington who wrote (8100)	1/17/1998 10:23:00 PM
From: Lawrence Brierley	Read Replies (1) \| Respond to of 20681

Kim, I want to look down the road a bit to the 5 TPD recovery plant. I know we have more drill results pending, and platinum numbers at least should pique some investor interest, presuming they come in at a high level. But really what is going to clinch this debate for the agnostics is the demonstation that we can deliver the goods...any time, and on demand. Now it seems to me that with all of the high profile junior mining scams that have been perpetrated over the last two years, third party verification is going to be indispensible to have these results accepted. I am beginning to wonder if a committee of Albert Schweitzer, Mahatma Ghandi and Moses himself would not be considered "tainted" when it comes to backing up our favourite company. Has Naxos given any thought to this issue? The best, Lawrence