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

To: Donna O'Donnell who wrote (8644)	1/27/1998 8:54:00 PM
From: jlallen	Respond to of 20681

I don't think we should exaggerate the importance of this thread. As far as I know the answers to your questions are as follows: 1. I haven't ever seen or heard another word about JJ's libel suit since it was allegedly filed. I have not ever seen the pleadings so I don't know the exact nature of the suit. 2. NAXOS voluntarily delisted from the Alberta Exchange at the time the suit against the Alberta Stock Exchange ( ASE) was settled and NAXOS agreed to admit to one minor infraction of exchange rules. A proceeding is still pending with the Alberta Securities Commission (ASC) (different from Alberta Stock Exchange) and I believe that a hearing has been indefinitely postponed . 3. IMO It will not be possible to obtain a listing on a recognized electronic exchange with the availability of real time quotes as long as the ASC charges are pending and unresolved. If unfavorably resolved listing could continue to be problematic until NAXOS sustantially proves up the property and potentially until there is new management. IMO a lot of the effort appears to be directed at Jimmy John. I'm not saying its justified, that is just the way it appears to me. My impression is that the whole thing will probably wither and die if the initial COC results continue to be proved out (although if I was the company I would expect the ASC to seek and find some sort of technical violation to be pursued as a face saving measure). Does anyone have anything else to add? Anyone disagree? JLA