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

To: Larry Brubaker who wrote (8231)	1/17/1998 2:12:00 AM
From: bill maghan	Read Replies (2) \| Respond to of 20681

You got it!!! It's all insane unless you can PRODUCE!! all the rest is BS and no one wants to hear the BS excuses How can you put a price on this, whether $4 or $4000,assays w COC and you get today's price Naturally, you can always catch the last few points (up or down),,,,,in your dreams, of course! BUY or SELLING ? ... no problem let the MMs "help you", market orders only and get on this INSANITY ride... just don't bend over they like it straight up , better yet PPs are always available at any price, see the president JJ or inquire within...

To: Larry Brubaker who wrote (8231)	1/17/1998 8:32:00 AM
From: mark silvers	Read Replies (2) \| Respond to of 20681

Larrry After what happened to you with IPM, I can fully understand your skepticism. In fact, I would even say that your skepticism is a very healthy and normal reaction. I don't agree that the parallells between naxos and IPM are as strong as you do, but so what. I think you are absolutely correct in picking a "watershed accomplishment level", i.e succesful pilot plant, and saying this is where I'm comfortable, it is where I'll consider getting involved. If that is what makes you comfortable, then that is how you should approach it. Personally, I think the cerified assays mean a lot more than you do, and am personally more bullish on naxos than I ever have been before( big surprise, right?) but I think in a stock as speculative as this, everyone should find their own comfort level and react accordingly. Mark

To: Larry Brubaker who wrote (8231)	1/17/1998 5:58:00 PM
From: sh	Respond to of 20681

Larry, I must disagree. While we all certainly were hoping for a higher stock price, there is nothing necessarily nefarious about the price action to date. We received excellent results that suggest to long term holders great potential. Does it have the same effect on potential new investors? They will have to do their own due diligence and that obviously takes time. The price of the stock has basically been stable between $5-8. While I expected it to be at least at the $10 level now, there are numerous variables that explain the current price, even with a decline AFTER the positive certified results. I don't need to go into them in detail since they have been analyzed ad nauseam by the thread. The results are only for a few sections of one hole, the testing process is apparently complex enough that Ledoux is still trying to master it fully, we need to determine whether the process can economically produce the PM's, we're living in the aftermath of Bre-X, etc. On the other end, we have excellent COC certified numbers (even if from a small section), we have investors who are willing to invest significant sums in PP's at $5 or $6, with one year+ restrictions on selling, we have additional labs that will be doing ongoing testing to attempt to establish the property is homogeneous one, rich with PM's, we have a pilot plant ordered and which should be ready for production in a few months that is expected to show the commercial viability of production, etc. You were smitten by the IPM situation and understandably have developed a lot of skepticism. However, the facts are undeniably different here. If IPM had come out with numbers similar to Naxos', I'm sure you would be proclaiming that it is the greatest find of the century. We have people that have crunched numbers based on various assumptions and come up with varying estimates on the potential future value of our investment (admittedly speculation based on their assumptions). You may laugh it off. I don't. Whether the future price will be $100 or $4,000, to me the potential of the company under the current state of affairs is excellent. I think the stock price is a great bargain now. Nevertheless, the company is certainly not at a point where we know for sure that the metals exist (and in large quantities) throughout the property and can be economically extracted. That's why it's still a high risk, speculative investment. However, the exceptional COC certified results, coupled with the circumstantial evidence of a homogeneous property, provide a lot of comfort for me and most of the other "longs" at this point in time and we are willing to take the continued risk. If I had been a Bre-X or IPM investor, I may not have the same attitude. I may want to wait for more solid proof, as you do. That's something I respect. Yet, I do believe we will be getting greater interest from major investors as the additional tests are conducted and the results released. I expect a large number of such investors will be buying in at the current levels soon and not simply waiting to get it at whatever the price is when the proof is demonstrated beyond a reasonable doubt. The larger investors are very sophisticated and I'm confident they'll want to take at least a partial position at the current rates. But, as always, only time will tell if this is true (otherwise I would be a very rich prophet). sh