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

To: jlallen who wrote (9508)	3/10/1998 9:57:00 AM
From: Tom Frederick	Read Replies (2) \| Respond to of 20681

Mr. JLA, First off you absolutely used the phrase "hard information" in the last sentence of your post #9458. (I'll wait while you go back and read it) Hum de dum, dum hum de dum. OK, Now that that is cleared up, while you didn't use the words "fraud" or "scam" I am getting the impression that in your most recent posts you are getting concerned about the culpability of Naxos management concerning our current situation. That situation being, I think we can all agree, the never ending "proof" stage of FL. We can also agree that there has been proof so far, but obviously not enough to get any major player on board. The question becomes are we as shareholders being realistic about our expectations of the required proof for the markets acceptance of the FL story, or has Naxos set the tone for overconfidence and we just gladly followed the lead. My feeling as of now is that it is a combination of both. Naxos offers what is probably the quickest, biggest payoff on an investment that anyone on this thread has in their portfolio. I don't have anything that has the potential of returning 100 X my investment in 3 to 5 years. But I can't speak for anyone else. With that in mind, the relative interest and intensity of that interest is muliplied by that same return possibility. And with that return weighing in the balance I think we all want very badly to hear that this will be going through the roof by tomorrow. Well maybe not tomorrow, but certainly by next week. Well not next week, but certainly by the end of the month. and on and on. WE WANT to believe it. But when it doesn't happen boy are we PO'd. And we are PO'd because we see the dollar signs drifting away from us again. Another delay another drop in the price. Balance that with historical life cycles of profitable mines and the time it takes to get them proven and off the ground. ADD to that equation a very non traditional property with a very complex ore and the possibilities for this taking much longer than anyone anticipated are multiplied by a factor of who knows what. We are likely ahead of schedule in all candor. The bottom line for me is this. Naxos management has ALWAYS truely believed in FL. They saw testing from 8 years ago that lead them to secure the property and embark on this odyssey. However, they never in their wildest dreams would have thought it would take this long to prove to the market. Had Naxos been made up of real mining experts it is much more likely they would have packed up and left years ago and moved onto another more traditional deposit. Had this been a nice little 100,000 ounce gold deposit it would be done with years ago. But that is not what Franklin Lake is. This promises to be THE mother load. (to date) But on the Naxos side they were simply overconfident regarding how much information the market would require to buy in. It's like the parent who has heard their child play the piano and thinks they are the greatest thing since Mozart. Even before they sit them down to play for friends, they are telling their friends, "isn't Suzie wonderful?" And poor little Suzie hasn't even played a note yet. She warms up and the parent exclaims "well certainly NOW you can see". But as of yet the "uneducated" friends surely do not yet "see" how good Suzie is. The proud parent may likely be right, but for those who don't know what they know, it is not yet clear. Then the ASE issues added tremendous complications. That got resolved to some degree but it still weighs heavy on Naxos making the burden of proof that much more for Naxos to get out from under. We all agree they have the goods. We all agree that we want this to keep making forward progress. But I think we ALSO agree that what Naxos is trying to do is what Naxos needs. Produce a very big, (120 to 360 number) release, from 5, count them 5 check labs. This is overkill. But this has the best chance ever of moving the needle and getting the market to sit up and take notice of the property and NOT the old, worn out ASE issues. Sure we would be happier with a few more release of 5 or 10 numbers dribbling in over a month or two. But Naxos is doing something much more impactful. Management is doing this the right way. Big release, expanded drilling and recovery all on the way. Could this be better organized and run on a faster track? Maybe, but no one is dragging their feet in my opinion, and even more, everyone would love for this to be done with and the stock at $______ (fill in the blank) I wish us all luck but more, I wish us all patience. This will happen. And we are closer than ever. Regards, Tom F.