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

To: Kurt R. who wrote (8919)	2/7/1998 9:36:00 AM
From: Jerry in Omaha	Read Replies (3) \| Respond to of 20681

Kurt, <<"Please, Jerard, do not confuse due diligence with doing "R&D" on technology that is already known, but Naxos failed to look for it. In my view, management has seriously violated their fiduciary duties by entering into an agreement with J/L without doing basic due diligence on the J/L process.">> Kurt, you surprise me with your statement. Research and Development is a form of Due Diligence directed internally. But ignoring that I don't see what you are so excited about. In my reply to Mr. Rich I indicated that no final deal has been struck. I'm sure you are aware that Naxos has tested over 64 different assay/recovery techniques and discovered through that investigation the simple fact that the Johnson Process, by far, is superior to all the others. There will be re-negotiated terms between Johnson and Lett. Those terms ought to reflect all that we have learned about the process, including the possibility of patent protection. Two things at least must be present before a patent could be issued; "novelty" and an expansion of "prior art" by non-obvious means. On the face of it grinding and baking do not sound novel at all and since we haven't seen the patent application we have no idea what declarations have been made with respect to prior art. One more consideration that needs to be made is the possibility that further R&D investigation may yield advanced methods which may be patentable, assuming, that chasing patents is even worth our while. If there are relatively few deposits like Franklin Lake in the world then patents would be of only marginal value. However in my opinion the discussion about patents is immaterial. The Johnson Process works and works very well and we soon shall have more certified numbers for more proof. It has not been revealed on this thread before but my sources tell me that after our ore is ground up and baked at just slightly more than kitchen oven temperatures an observer can see with the naked eye "color" indicating the presence of gold and other precious metals. I have been told that our ore after the Johnson Process can be panned! This to me speaks volumes and greatly enhances my confidence level. So should it yours, my friend. Jerard P P.S. If you're trying to shout Jimmy out of his slot as the head of this company I don't think it will do much good. Someone else tried to do something similar recently and it turned out pretty badly for that party. Boy, and how.

To: Kurt R. who wrote (8919)	2/7/1998 12:16:00 PM
From: Doug Meetmer	Read Replies (1) \| Respond to of 20681

I thought you werent going to publicly share those opinions? We are treading water as it is.