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

To: ShoppinTheNet who wrote (10786)	3/22/1998 2:26:00 PM
From: MIKE MORGAN	Read Replies (1) \| Respond to of 20681

S.K.-- Good series of questions for Kim! The are all straight and right to the point. Let,s see what his answers are. I would also like to commend the new management on some of their new approaches : timely, and more accurate news releases - the first set of numbers in quite a while showing a top to bottom spread - a genuine concern regarding proper chain of custody - a new writing style for the releases. It is my genuine belief that many of the concerns on this thread have been conveyed to the new Naxos team. It seems as though accuracy and integrity may be of great importance to them. Even if the company has to take a few steps backward to get on track, it will be worth it in the long run. A whole new set of COC holes may be required to fix the mess someone made by taking B.D. out of the integrity loop. For the BIG BOYS to move into this project, big numbers will not mean as much as integrity, integrity, integrity (shazam).-- The last two releases seemed to focus on questions posed on this thread over the last week in particular (thank you management) Mike Morgan--getting optimistic --(maybe) P.S. Does anyone have any comments regarding the credibility of CMRI and how is their reputation viewed in the mining community using Ledoux as a comparison?

To: ShoppinTheNet who wrote (10786)	3/22/1998 5:59:00 PM
From: Kim W. Brasington	Read Replies (2) \| Respond to of 20681

S.K.: In regards to your questions: #'s 1&2: The company has not awarded the drill program to any firm at the moment - the bids are still out. Not having awarded the job, we still don't know the exact date. Today they are marking out the drill locations on the playa. 3) As has been noted in several previous news releases - Ledoux gave certified numbers on Behre-Dolbear drilled and COC'd material from Franklin Lake, that was stored (under COC) at CMRI, which was then shipped to Ledoux (under COC), where the tests (under COC) took place. In addition to the Behre-Dobear/CMRI material that was under COC, there was the SRK COC material that the ASE used. 4) Assaying may not always come out with the exact results from two different labs on first rounds. These are the first tests. 5) I have commented on this before, but once again - Naxos is not certain, and given this uncertainty, more testing and drilling is called for. Geologically speaking, there is a phenomenon that takes place in alluvial deposits which some call "hot spots". There may be pockets of indeterminate size located on the playa, that may have a greater concentration of gold than other areas. 6) I am unaware of the hiring of a public relations firm to write the news releases. It was done in-house. 7) I have not heard of a "Norton" recovery method. Estimated costs on any recovery methodology are premature at this stage - it is just guesstimating, and could be most inaccurate. Regards, Kim W.