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

To: Richard Mazzarella who wrote (9839)	3/12/1998 4:49:00 PM
From: mark silvers	Read Replies (1) \| Respond to of 20681

Richie Maxam stock is at 40 cents because they have no COC that isnt done by their own consultants. They were also supposed to be in production by the end of the first quarter. There are many reasons why each stock is at its current price. Personally I dont think share price is a good indicator of value in stocks such as these, but it was your point that you brought up. BTW, Tom has done immense amounts of research on Naxos. The reason he gets respect on this thread and you are frequently ignored is because he usually backs up his statements with fact. When you have been asked to do that on this thread, you usually just disappear. Mark

To: Richard Mazzarella who wrote (9839)	3/12/1998 4:54:00 PM
From: Neal davidson	Respond to of 20681

Two questions for Kim: If this is material which CMRI put through the JL process, then would Johnson's cost estimate of $100 still apply? If so, how does that number fit into the economic recovery equation, now that the assay numbers are lower? Did the labs test for platinum and paladium using lead fire assay or copper sulfide? Last time Ledoux said there was no platinum, it was later clarified that they were not expected to find platinum, due to the testing process. Is that the case here? Or were the appropriate tests performed, and the results nonetheless were poor? Still long...absolutely not selling now.

To: Richard Mazzarella who wrote (9839)	3/12/1998 4:58:00 PM
From: Tom Frederick	Read Replies (1) \| Respond to of 20681

Mr. Mazzarella, like I said, how much? Based on 500,000 tons and .2 opt, that equals 10,000 ounces. That equates to a ore value of $150 million at retail prices. If they have an extraction cost of $200 per ton, than the cost to extract that much is about $100 million giving them a $50 million dollar difference but that is at retail value. Now depending on how much it costs to get at the property, build the roads, etc., that may not be much. If Naxos has 450 million ounces, at retail that's $135 BILLION minus even at $200 per ton costs or $90 billion leaving a mere $45 billion dollars on the table. And we haven't touched the PGM's or improved the Au recovery. Now which property has the best chance of being profitable? Just my thoughts. Tom F.