To: knight who wrote (10016 ) 3/13/1998 10:57:00 PM From: MIKE MORGAN Read Replies (3) | Respond to
I,m breaking my silence after several months of lurking! Some of you may remember that I used to post somewhat routinely on this thread. Several months ago, I liquidated my position in Naxos. Looking back in retrospect ,I believe my primary reasons were distrust in the management, a belief that stock price manipulations had occured frequently- benefiting friends,family, and others connected to insiders in this company and lastly, misleading news releases. The straw that broke the camals back for me was when I posed a question on this thread to Kim B. regarding test results from Ledoux. It was intentionally not answered. I always felt as though I could trust Kim , even if I had great skepticism for the words coming from some of the others connected with this outfit. Now that I am no longer financially attached and therefore just an observer, I feel stronger than ever that my suspicions were correct.-- I believe that there are two questions that should be the basis of logical thinking for shareholders of this company (1) How much gold (pm,s) is there at Franklin Lake? (2) Can it be extracted economically? For years, I have seen answers to these questions massaged, fondled, molested, twisted, weaved, and put into news releases. If you doubt this, go back and read the releases for the last three years. You can start with the published results indicating .25 opt. avg. for gold and equally good results for a cornucopia of other precious metals contained within the FL property. At that time, I was impressed with the consistancy of the results as well as A COMPLETE SET OF NUMBERS (top to bottom) for the Franklin Lake Playa. Even if the results could never be reproduced, and the stock was suspended/banned from trading on the Alberta ,at least the numbers were a complete set. WHO CAN REMEMBER WHEN THE LAST SET OF COMPLETE NUMBERS WERE PUBLISHED? It is my opinion that the company is again misleading it's investors with information that is in fact true but not accurate. I have read numerous releases over the past year and a half and have noticed that this has now become the company norm. This concept of misleading truth became apparant to me by a lesson taught to me recently by my children. If I may -- I was constantly on my one child to raise his school grades. Every day I asked about test and homework grades. I was frequently shown homework and tests displaying A,s and high B,s. I was a very proud father until report card day. To my chagrin, the report card contained B,s, C,s and a D. Needless to say ,I went ballistic on my son for hiding the fact that he knew that his grades were not what he purported them to be to me. I felt betrayed and of course put him on restrictions for the rest of the grading period. He never lied to me about his grades , but at the same time he mislead me by not showing me the all of his test and homework grades. If I had only asked him more specific questions concerning each and every one of his graded assignments I Would have never been suprised when I saw his report card. NAXOF SHAREHOLDERS NEED TO ASK THE RIGHT PEOPLE THE RIGHT QUESTIONS. For instance: Weren,t you told on numerous occasions that Ledoux was performing tests on numerous holes from top to bottom? Has any one seen results from top to bottom on numerous or even one hole. The results always have severe gaps and often are for one depth tested several times. How about all the other tests that were conducted during the weeks or months between releases. Would anyone like to speculate what the numbers were on those results? If you would like to know, do some real due diligence and find out. Ask someone that will tell you (like Ledoux employees) or others that are willing to discuss this and not leave it out of a news release like it never existed. These results need to be averaged for a complete and accurate idea of how much gold is contained on the property. If a sample was tested 10 times and produced results from .001 to 1.0 and a report lead you to believe that the sample containes 1.0 opt. would you feel betrayed? I propose to you that this is why results have been long in coming and scattered from Ledoux , and why there are new labs on board now. If there are doubters, you could always call or go to the Ledoux lab in Teaneck N.J. and demand answers on this topic. All you need to do is ask the right people the right questions. On the 98-5 release are the blanks there because the samples were not tested or because the results were trace. Every one should be asking these and other questions and not always high fiveing their favorite Threader as the stock price sinks . Someone is selling the @#$% out of this stuff, especially over the last couple weeks. Sounds real familliar doesn,t it. With the new plethora of testing facilities, and the removal of B.D., chain of custody may in reality be a thing of the past. Who is sending the dirt to who and who has prepared the sample prior to testing. The links in a chain of custody weaken drastically with every hand touched. Please read these releases carefully. A few sharp Threaders have picked up on some of these topics and asked the same questions. At the risk of being wrong , are not the samples tested by CMIR going through the following hands --- (S. K. Robinson /Behre Dolbere/ Naxos{since B.D. is no longer employed} /Al Johnson/ CMIR / various testing labs)----- Gentleman; after BREX, would you trust this chain of custody with your childrens college fund? Would you trust half of this chain with your savings. Also ,what ever happened to the platinum ,To the J.L. process which yeilded numbers 10 times higher( and platinum results too ), To the stock price of 10 dollars , which was fueled by the J.L. process. Please learn from your children-- ask the right questions. The question now is not how many laboratorys will agree that there are precious metals in their supplied Franklin Lake samples, but how much is there and can it be extracted economically. I have alot of frustration built up and could go on even longer, but will spare everyone. I feel for the investors that came in at 10 or 8 or 6 dollars and dreamed each night for a new home or boat as I did. I would also like to meet those reaping tremendous profits at the expense of others ,while riding the inside roller coaster . I,d love to kick them in the balls. My guess is that the coaster will again ride upward someday when someone figures out a new spin to put on the Naxos saga. P.S. Sorry I upset many of you and sorry I had to agree with some of the clowns who have been posting on this thread....... Mike Morgan
