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

To: Larry Brubaker who wrote (9077)	2/13/1998 3:37:00 AM
From: sh	Respond to of 20681

Larry, I would think it is rather basic. We're obviously not going to dig up every bit of the property and test it. We are going to take enough samples from different parts of the property and try to establish to a reasonable degree of certainty that those samples represent the property as a whole. If we can do that, then we can extrapolate with reasonable certainty that the property is homogenous, that is, it contains approximately the same amount of PM's distributed throughout it. The idea here is not to show that the entire 28,000 acres are homogenous but rather the @2,800 acres that prior tests have indicated are. If they're not homogenous, then it would be much more difficult to determine approximately how much of the property contains the PM's. Lack of homogeneity would not mean the property is not nonetheless rich with PM's, it would just make the task of determining how rich it is more difficult. I'm not an engineer so if someone has a better idea or explanation, feel free to comment. S.K., I would not expect you to be critical of those who raise questions about issues of concern. A specific example is the status of Mr. Arkoosh. If he is no longer a part of management, I would like official notice of that fact and the reasons for this. That is not too much to ask. I requested a company representative through this forum to clarify this issue a while back and did not get an answer. I did not push it since I figured that the answer was obvious, he continues to be a part of the management. Furthermore, the company web page confirms this. Nevertheless, a person I highly respect stated in a post recently that Mr. Arkoosh was not a part of management and thought that was common knowledge. I obviously became concerned that this information was not disclosed by the company (it certainly was not known to me). If it turns out that the posted information was not accurate, then I indeed would owe the company an apology for operating under the assumption that the posted information was accurate and was withheld for whatever reason. I believe my concern is legitimate and don't believe there is anything wrong with airing it. Doug, I disagree with you regarding the effect of testing on potential investors. When Allen & Co. were apparently considering investing in Naxos before the trading halt, we did not have a situation such as Bre-x. I would expect major investors to be more cautious after such an incident (together with such things as the ASE, ASC investigations). I would expect them to want COC certified results. I would think that they would have gotten on board after the release of the exceptionally good COC certified test results. However, that obviously was not enough for them, regardless of the fact that I believe it should have been (the results confirm what the company has been saying its testing of the property has shown for years, including previous testing by Ledoux). It may be there are reasons other than the test results that major investors are reluctant to come in at this point. I'm not going to speculate about them. I am, however, like you, going to continue expressing my views on issues of concern to me (although I must admit life was much simpler when I was a mere lurker! It's tempting to revert to that status). Now I'm really bored. Good night.