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

To: Richard Mazzarella who wrote (10789)	3/23/1998 9:23:00 AM
From: Tom Frederick	Respond to of 20681

Richard, sorry for the delayed response, but let me make one very important point. As you quoted, the Ledoux testing IS believable. What is different about this than any other ore body. It is common for there to be a period of testing before the true ore content is revealed. And the fact remains that you cannot prove what isn't there. So unless you believe that Ledoux and CMRI are "in" on something, rest assured there really IS at least .2 opt gold in the areas drilled so far. It is a completely fair and reasonable requirement you outline. Much work DOES need to be done, but one thing that should not remain as a doubt is whether the current testing is accurate or not. If they can keep the testing coming at the current pace, we will know about the content of the tight grid at least by early summer. Regards, Tom F.