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

To: knight who wrote (10728)	3/20/1998 3:52:00 PM
From: Henry Volquardsen	Read Replies (2) \| Respond to of 20681

knight, I agree the recent numbers would be a disappointment if they were only for ore treated with the process. But the most recent report shows interesting results for untreated ore which is an exciting development. The Johnson-Lett process is also an interesting matter. The indications we have seen so far indicate, at least to me, that the process is not as stable as we once believed. I posted this view already a couple of days ago. Sometimes good numbers, sometimes not. I suspect that this process is further from fruition than we origionally thought but not a write off by any means. Meanwhile we have good numbers on at least some untreated ore. As far as the money out the door, so far it is only $250,000 and the operating costs so far. And as I said I believe we may still get value for this. As far as the statement that without the support of long term Naxos holders the share price would be even lower, name a stock where that wouldn't be the case :) Henry