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

To: Jerry in Omaha who wrote (8997)	2/11/1998 9:12:00 AM
From: RRG	Read Replies (1) \| Respond to of 20681

TO ALL: I live in a college town (Bloomington, Indiana, home of Indiana University and Bobby Knight). Couple of days ago I noticed a new sandwich shop had opened right near the campus. The name: "Jimmy John's Sandwich Shop". This, of course, raises interesting possibilities. Who knows, maybe in addition to a PM empire, we are also a restaurant empire in the making! Bob Goldstein PS--I intend to become a regular patron!

To: Jerry in Omaha who wrote (8997)	2/11/1998 10:57:00 AM
From: Jerry in Omaha	Read Replies (2) \| Respond to of 20681

To All, One of the constant challenges an ultra-individualist faces in life is the dominant social medium of "Group Think" and the necessity of dealing with constant pressures to yield and conform to group doctrine, not to self- generated notions of independent thinking. Omaha is an Indian word meaning, "Upstream Swimmer." So here goes! On this, and other mining threads, is an example of Group Think that I would like to challenge with my independent thinking: "Without exception the management of all mining companies must have, at every level, extensive experience in the mining industry. As a mine, Franklin Lake has unique qualities diminishing the need to thouroughly saturate management with mining industry professionals in all capacities. Make no mistake, however, I do not argue that we have no need of management with extensive mining experience, and from what I have heard John Norton is a very good beginning in that direction for Naxos. Places on the earth where raw materials are extracted present, in each case, unique difficulties and complications to the physical tasks of mining, processing and transport. The most valuable experience to have for a company wanting to exploit a mine are people capable of assembling and ram-rodding the huge infrastructure needed to support most mining activities. Roads have to be built, power brought in, natives quelled, swamps drained, and so on and so on; a continuous litany of tasks that vary for every location. So what's the first thing you tell a junior mining company that owns a few trailers and pieces of heavy equipment and entertains the curious notion that they can just go up there on the side of that mountain and start digging out the ore. This is where the stockholders should be saying, "Get better mining experienced management. That's a stupid decision no mining professional would be stupid enough to make!" And those stockholders would be absolutely right. But look at the real physical situation at Franklin Lake. We'll need professionals alright, but not necessarily with extensive mining backgrounds. What experience with refractory ovens would they have? That's an important question. Have you ever worked as a landfill engineer? That's another one. My direct experience tells me that this mine could be excavated and restored to original condition using a modification of the same sophisticated technology of modern sanitary landfills. Just think of the advantage that gives us! Or maybe someone from the food industry where huge mills make super-fine powders for extrusion machines. Dust control would be very important and such a person's experience may fit our needs like a glove. I grow weary of the constant clamor for a change in management when what is meant is a change in pace, or a change in vision. Who here argues about the real work that is being performed on a daily basis? Or the plans the company has released? I have said many times it does not take a creative genius to call for sweeping changes or tick-off all the ways something is likely to fail. These actions provide no material contribution and just may tend to increase drag. I am only going to say one thing specifically in Jimmy John's defense, not that he needs me to come running to it. This guy attracts some pretty classy people with deep pockets and deep commitments to eventual success. This thread and the classy people contributing here, all of us, is another example of what happens around Jimmy John. Henry Ford was a character that people said the same things about so Jimmy's in good company. I have satisfied myself that Jimmy John's intentions and visions for this company parallel my ambitions for the company in all significant categories. For the last twenty-five years I have had my own intimate experience with these notions Jimmy and I seem to share. I know full well how my notions and ideas are received by people. I easily can see how and why many people will continue to oppose Jimmy's hand on the helm. I impute no bad intentions on the part of any one of our contributors who is in opposition; the contrary in fact. They have nothing but the best intentions and I thank them for their out-spokeness. Because only the depth of their sincerity allows me to express myself to the depths my own. Thanks for taking the time to read this, all of you. Jerard P