Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: knight who wrote (9916)	3/13/1998 10:46:00 AM
From: Henry Volquardsen	Respond to of 20681

Agreed on absolutely all points. We cannot estimate reserves based on two holes which is why the 200 hole drilling program will be important. Also we have enough evidence, imho, to indicate that the playa is not homogenous. The bad news from that is that we will not realize the sugarplum fantasies of 3 billion tons of ore with 3 ounces of gold and 5 ounces of platinum per ton. That was never realistic. The good news is that if the playa is not homogenous we will find higher concentration zones that can be successfully mined without having to process the entire playa. There were non-asteriked numbers in yesterday's release that were above .2 opt that may be viable. But I absolutely agree that Naxos still has a lot of work ahead of it.

To: knight who wrote (9916)	3/13/1998 10:48:00 AM
From: Larry Brubaker	Read Replies (1) \| Respond to of 20681

Knight: I agree with your comments. I have suggested a couple of times on this thread since the 3 opt came out that attempts to value the property based on (at the time) a few feet of one hole were ridiculously premature. I see nothing to change that opinion. I also agree with Richard's comments about GPGI and recovery methods. They can't even spit out more than a few thimblefuls at a time from a concentrated pile of 8opt. We have no idea if the Johnson-Lett process will be successful in extraction, let alone economic extraction. To my eyes, Naxos is in no better (or worse) position than several of the other dirts. A few weeks back, I pointed out the large discrepancy in market caps between Naxos and the rest of the dirts. That situation is correcting itself. By the way, Excite seems to have more recent quotes on Naxos than the previous afternoon's close. quicken.excite.com

To: knight who wrote (9916)	3/13/1998 10:59:00 AM
From: mark silvers	Respond to of 20681

Knight You are right of course. We can not extrapolate reserves from two holes. I have said that before on numerous occassions. What we can take away from the results from two holes over a mile apart is the INDICATION that PM's MAY exist throughout playa. It is an indication and a start. A start that will be proven/disproven with further testing. Mark BTW, keep the questions coming. Rationale discourse is a good thing, you are not raining on my parade in any way shape or form