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

To: Henry Volquardsen who wrote (9146)	2/17/1998 10:28:00 AM
From: Tom Frederick	Read Replies (2) \| Respond to of 20681

Henry, Just for quick comparison look at two of the DD's remaining. The most recent test results that follow offer a very clear picture of where Naxos stands in the bright light of the truth of lab testing. IPM - Last release was on non COC samples announcing gold results of approximately .05 to .09 opt with an average of tested samples of .07 (as of this last release their platinum testing was continuing) CHIP - Last release was on non COC samples announcing gold and silver results. Gold .019 & .023 / Silver 4.16 & 4.02 In both cases management was "very pleased" with results and encouraged to move forward. In the case of CHIP they claim to be working on a proprietary method of recovery and assay. Keep in mind that the CHIP property is fairly close to Franklin Lake. What this tells me is that, as in the case of IPM, even with what was forever touted as "very good management", you need good ore to survive. In the case of CHIP, you may think you have the ore, but with very little forward motion in improving the testing, the stock languishes now at $0.37 or so. Naxos is clearly the "tortoise" to the IPM "hare". Naxos started slow with very little hype, but here we are today with a trading range over $4.00 consistantly ever since we got on the BB AND good solid test results (more chicken and egg stuff). Bottom line, Naxos is improving results, with more and more credibility along the way in the form of COC and Certified results from some of the most recognized names in the industry. IPM had .07 average on gold only. Naxos just announced 1.7 opt gold certified and COC. That is 24 TIMES the gold concentration of the IPM number PLUS we know that there is significant platinum, palladium, silver, etc.. I am very happy with where Naxos has gone in the last 6 months. We obviously have the goods and we are more on track than ever with the business plan. This is not a slam on IPM or CHIP, it is just a reality check for us Naxos shareholders. We are doing very well. We are on track and coming out on top in terms of forward progress and proof of a very rich deposit. Is everything the way I would like it? No, but looking at the big picture, the numbers will be our success. Managements job now is to keep us on track and keep the J/L testing, the drilling and pilot recovery all moving forward. In due time, all other issues will fall into place. This is mostly a numbers issue now in my opinion and we clearly have the numbers. Regards, Tom F.