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

To: KRosenfeld who wrote (8189)	1/15/1998 8:19:00 PM
From: Ed Huang	Respond to of 20681

My 2 cents, There are a few reasons causing "sell on the news" in the recent 3 days. (1) the assay took too long (at least took 3-4 times the normal time) for Ledoux to complete, while investors had been waiting and hearing the rumors that good assay results was on the way. (2) in the last news release, Ledoux only gave the assay numbers but did not certify the numbers. In the latest news release Ledoux certified the assay numbers but the number is much higher than the last assay's. It appears that there are some hesitant and inconsistent problems in Ledoux testing results. (3) The assay samples in the last news release was not COC, but the latest news release stated it was COC. Investors are probably feeling unclear about it. (4)tomorrow is the day insiders can start trading Naxos shares, some investors have anticipated that insiders are likely the net sellers tomorrow, which could give the share price some pressure in the last few days. In spite of the above problems, I personally feel that the latest news release showed an important development for NAXOS. I also believe that Naxos management is on the right track to solve the remaining problems, which includes, to introduce a second lab for assaying and building a pilot plant in the very near future. Price wise I see a support at around $5 - 5.50, I hope more people to buy than to sell at this level and makes this support hold. To insiders, Buy at $5 - 5.50 tomorrow. Good luck to all.