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

To: Random Walk who wrote (9039)	2/12/1998 9:30:00 AM
From: mark silvers	Read Replies (1) \| Respond to of 20681

RW I agree with almost everything you said. I have one question. Why do you think releasing only a few feet of certified results hurts our credibility? I dont think it helps it very much, but I can't see how it hurts. I think it is taken for what it is, A few small baby steps on a much larger journey. Mark

To: Random Walk who wrote (9039)	2/12/1998 10:21:00 AM
From: Tom Frederick	Respond to of 20681

Random Walk, the "wild odyssey" you refer to is absolutely true. But the reason that it has transpired this way because it is indeed a wild odyssey to prove what has never been known before, never believed possible and never before proven. When Naxos comes up with confirming numbers from the last round of testing, and the size of the deposit is also confirmed at approximately 2 billion tons, this will be the end to a most extraordinary odyssey indeed. You can understand why the first round of tests took some time to get released. After years of getting hit and miss results, LeDoux was getting big, consistant numbers. Numbers way out of the range of the 115 year history of the company (1.7 opt when typical results are from .07 to .2). That requires a double and triple take before numbers like that are released and understandably so. The fact is that they were released and now we await confirming tests from 2 additional labs plus the South Africans on free gold. In my mind, the company is exposing themselves to the release of absolute truth regarding the ore. Expanded testing, more sources on more ore. And the truth will be out shortly. As for the Bre-X comparison, it has been reviewed so many times how these two stories are light years apart that it is not worth going over in detail again. However, the basics are that Bre-X had virtually no independent drilling and preperation of material. They had only a small handful of people outside of the company ever see the property. And they scammed with world with very much industry standard results, (.073 opt of gold only) that it made it easy for the greedy to believe the story without doing any serious DD on it. You are correct that some image issued haunt us, but there are no issues that I see which can stop the forward progress of this property. Prove up over 1.7 gold PLUS Platinum PLUS Palladium, PLUS any other PM's and it will be impossible to ignore. This property would represent HUGE tax income for California and virtually UNDENDING revenue at unheard of profit margins for whomever gets this mine operational. The road to that end might still be quite bumpy, and certainly some things still need to be addressed in the area of adding more mining people and deeper experience in the business management area, but all of those things will be addressed when the attention of the market in general is clearly focused on the reality that the PM's are there and the only thing left to prove is just how much there really is. Just my thoughts and opinions. Tom F.