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

To: Michael Donahue who wrote (8701)	1/29/1998 12:45:00 AM
From: GlobalMarine	Read Replies (1) \| Respond to of 20681

Michael: Unfortunately, the DD companies probably don't plan on meeting milestone dates. While they have limited funds, managements of the DD companies probably feel that they have almost unlimited time, so if they need more time, they just take it. Sure, it pisses off the shareholders but as long as management can continue drawing a salary and obtaining funds to continue their work, there's no overwhelming emergency for them to meet milestone dates. If management ultimately succeeds, shareholders are happy, handshakes all around and all the delays are forgiven. If the company ultimately fails, at least management drew a good salary and benefits for the duration and had taken some profits on shares.