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

To: Max Haber who wrote (10237)	3/16/1998 8:15:00 AM
From: mark silvers	Read Replies (1) \| Respond to of 20681

Max, I dont know what the standard discount is for reserves in the ground by the mining industry. Also, I hesitate to put numbers on the stock price like you have because it is too big of an assumption in my mind. Two holes does not homogeniety make. My take on the two holes done as it pertains to the overall picture of the playa is that it is impressive that we are getting numbers from holes over a mile apart, but it is no where near enough proof to make a definitive statement about what is in between those holes. Only more time and testing will allow us to make any statement with any kind of authority. I realize that you stated all numbers are guesses and estimates, and that you have qualified your statements in such a manner. I just don't know how much good it does to dwell on those types of scenarios to either the positive or negative extreme. I feel that Naxos has to slowly and methodically build a body of evidence by continuing to put out numbers on a consistent basis. It is only through a strong, complete body of evidence that we can acquire and validation of our claims. Nothing else will suffice. The other thing Naxos has to do is to make a complete break with the past. We have to maintain a clean and squeaky image and that means we need experienced, NEW management. If we bring in any leaders from the past such as Fred, the street is going to just look at that as more of the same, and continue to give us no credibility and question everything we do. Only a new fresh start will give us the springboard we need to achieve our goals. JMHO, Mark