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

To: Larry Brubaker who wrote (8281)	1/18/1998 4:24:00 PM
From: KRosenfeld	Respond to of 20681

Larry, When these big institutions go in, they don't really care what they pay for a stock, within a range. They may say " Go get me 1 million shares, or get me 300,000 shares. If the stock hits, who cares if you got it at 3 1/2 or 5 or even 10 dollars a share. I, on the other hand, buy shares in dollar amounts. Get me $5000 worth, or $10,000 worth etc. To me, it makes a difference if the stock is at 2 1/2 or 5 dollars a share. Hence for the better payoff, I need to risk more for the extra shares. I had to get in earlier than others might have (i.e. institutional buyers). I didn't start recommending the stock until after Labor Day to others, I felt it was far to speculative then. I wouldn't let my parents invest until sometime in October, and they paid a premium. But, I believe the risk was substantially less at that time. Again, all money invested is risk capital. We all have dreams, and Naxos, IPM, MAXAM, CHIP may be the answer. I personally believe that Naxos is not only at the front, but may be the answer to all the others fortunes as well. I got in early to increase my holdings. I am far happier now than I was ten months ago. And most importantly, I go to sleep at night resting easy, at least until the baby starts crying. (Thank g-d for breast feeding. According to the American Perdiatric Association, it makes the babies smarter, and it allows the men of this world to sleep at night. It is too bad my mother didn-'t know this 35 years ago!!) :-) Ken

To: Larry Brubaker who wrote (8281)	1/18/1998 6:51:00 PM
From: mark silvers	Read Replies (1) \| Respond to of 20681

Larry, <<Obviously different investors have different risl tolerances. As long as you are comfortable woth yours, knowing that you can't DD a black box, I say good luck to you>> You are absolutely correct in saying that you can't DD a black box. What you can do with some measure of cetainty is measure the effects of the black box. If you have COC ore(which we do) and certificaton of results using the black box(which we do) you then can measure the effects of that methodolgy on that particular ore as it pertains to what kinds of grades it will show. The pilot plant and the subsequent production assay will be able to measure the output and ecoomic viability of that said black box methodology. So the question becomes, what is more important, knowing the actual theories of the methodolgy, or being able to measure it's results? Comments welcome. Mark