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

To: Kurt R. who wrote (8926)	2/7/1998 2:03:00 PM
From: mark silvers	Read Replies (1) \| Respond to of 20681

Kurt, As you and I have discussed in many private e-mails, I feel that this is all a matter of perspective. You said: << It is true that Jimmy John has brought the company to where she stands now, that is just plain trivial. >> From my point of view, how can that be trivial? I think that is the whole enchillada in a nutshell. Where you see a lack of foresight and planning, I see signs of strategy. Let me explain how I view this. We were presented with the J/L process(as were the other dirts, we wee the only ones to persue it, thank god)JJ struck a deal with Dr. Johnson and his associates. That deal has lead us to the following position. We have access to a methodology that is giving us the best and most consistent results to date.Results that you say may change our fundamental position for the better in the short term. The process itself may or may not patentable because of similarities to processes that are used in other parts of the world. If it is patentable and we buy it, we have to assume that it works and works well(or why else would we buy it?) In that scenario, the world is rosy because we have a patentable process that works very well and we own it. If its not patentable, thats because it is a process that is KNOWN to be a viable and proven process that is in use in other parts of the world, and we get it for FREE. That appears to me to be a win/win scenario. Your response may be that JJ got lucky, or took too long. My response is, who cares? It is the current reality and it is a reality(at least in my mind) that I like living in. Now, I am not saying that Naxos' current management has done everything right. They haven't, but few people rarely do. I still believe that experienced mining people need to be added to the team. Mr. Norton's addition as mining manager is a step in the right direction, but it is only the first step. I would like to see more people with actual mining experience added to top management positions. I think that could only help us. However, if you still have doubts about the direction that we are headed, look at where we were a year to a year and a half ago. Then think of all the progress that we have made. A lot has been accomplished, and it appears that it may be only the beginning. Good Luck to us all, as I feel that this adventure is only beginning! Mark

To: Kurt R. who wrote (8926)	2/7/1998 4:08:00 PM
From: Jerry in Omaha	Respond to of 20681

Kurt, <<"Where would Naxos be today if the company did not adhere to its pattern of management by trial and error?">> In a private conversation another contributor made that point quite clearly to me as well. I can only agree that I too suffer the "Short Termer Blues." I am not arguing that this is the specific instance but I have observed that good long term decisions often are accompanied by short term discomfort. In the case of Naxos I have observed that, with respect to the physical tasks at hand, long term planning, sensible decisions, careful regulatory compliance and skillful implementation of tasks are the norm for Naxos. Only time will tell if those decisions were worth the agony of the continued suppression of the stock value by the market place's apparent misperception of our certified real, loaded with precious metals, status quo. It's anybody's guess what the stock price would be if Naxos would have been managed optimally at all levels; $15-$25 range perhaps? Yes, perhaps but the fact remains; we will get there from here. And then beyond. Perhaps we should erect a "Pardon any Inconvenience our Prototype Construction May Cause" sign up as a warning to anyone expecting a normal company to invest in. <<"Has the fat lady sung yet?">> She's just waiting for the downbeat somewhere between now and the pilot plant's daily output. We are now waiting for that one particular test result soon to be certified that will be the proverbial straw. Know what I mean? Jerard P