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

To: B.D.Bauden who wrote (8754)	2/2/1998 9:40:00 AM
From: Tom Frederick	Respond to of 20681

Mr. Buaden, I agree with your two basic points, but I think there are two groups that we are speaking to with the proof of FL. In one case, we are talking to the industry as a whole trying to prove what has never been done before on this scale - mining PM's in high concentrations from soft earth vs. hard rock. There is one level of proof to convince the world of mining and typical investmentors in mining. For those people, I think you are correct that they want to see actual recovery. However, on point 2, I tend to believe that there will be a faster time table for a forward thinking investment source to decide to get on board. The big investor with deep pockets who jumps in first, (assuming FL proves out) will benefit the most. And indeed, if a large investor gains a significant position, and FL proves to be one of the largest PM depositis ever, that entity, whatever it is, will have a significant, long term position in precious metals and will generate an incredible return on its investment. Of course, this all assumes that Naxos continue to prove up what they have already shown in testing AND the size of the deposit is verified with an expanded drill program. At this stage, current results are certainly enough to begin conversations, but the question is how much info will a more dynamic and forward thinking investor need to decide to get on board? It is not answerable by us. It just makes the next few months very interesting to watch. Regards, Tom F.

To: B.D.Bauden who wrote (8754)	2/3/1998 10:32:00 PM
From: B.D.Bauden	Read Replies (2) \| Respond to of 20681

To All, I saw this on another gold mine thread. Thought it may be of some interest. Check this out copied from Gold Price Monitor, Soros also rumored to have huge stake and silver up to 6.78 overnight. If true this will drag a lot with it!!! LATE NEWS FLASH!!! CNBC just reported that multi-billionaire financiers, George Soros and Warren Buffet, have purchased one million ounces of physical silver. It was also announced that Warren Buffett, through his holding company, Berkshire-Hathaway, has accumulated 130 million ounces of silver beginning in July 1997 through January 12, 1998. Some analysts put this amount at 20% of the known silver reserves. Perhaps this explains why silver jumped 36 cents today to a fresh new high on the COMEX, and why silver is now trading at $6.78-- up another 17 cents in the aftermarket. We have also heard that these two gentleman are buying physical gold as well, but we could not comment on it until the news of their silver purchase broke. Watch out tomorrow. Prices could skyrocket on all metals, but especially gold as the shortsellers get caught on the wrong side of the market.