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

To: Paul Salber who wrote (9888)	3/13/1998 12:01:00 AM
From: knight	Read Replies (1) \| Respond to of 20681

Paul, (if you're still up) what mining operation are you comparing the numbers with? If someone has suggested a comparison to low grade, bulk tonnage operations, such as the Nevada mines, they are making an incorrect comparison. These types of reserves are amenable to existing mining methods. Heap leach operations can extract gold at around $10 to $15 per ton. Pretty cheap. Naxos does not have an economic extraction method. The one that will be tested this Spring will not even come close to heap-leaching. Naxos needed the high assay numbers that were released previous to today to have any hope of a viable mining operation.