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

To: mfgrep who wrote (11278)	3/30/1998 11:48:00 AM
From: mark silvers	Read Replies (3) \| Respond to of 20681

Jason-- I dont know for sure what is happening with the pilot plant, but I will say this. Unless Naxos plans on using the J/L process on a great percentage of FL ore, the pilot plant is useless. The plant, as intended, is only meant to be used with that process. If we dont use the process the plant will be a colossal waste of time and money. Resources that will be better used in other areas such as a drilling program to continue to prove up the property. mark

To: mfgrep who wrote (11278)	3/30/1998 12:10:00 PM
From: Jan A. Van Hummel	Respond to of 20681

Jason, I do not think that the pilot plant is necessary to show that the FL field is viable. The pilot plant is necessary to show that the JL method has sufficient merit to justify going to a plant scale development. However, as long as we have not delineated the field we are taking some real chances proving or disproving a methodology on an unproven field. The results we have to date already show an economically recoverable presence of PMs. What we need to know now whether the field is large enough to justify further investments/development. I would not be too worried about the plot plant at this time. Naxos has very limited resources and need capital to take this to the next level. Delineating the field will make much more of an impact than to get results from a pilot plant, which has still the risk of falling short of expectations. Were that to happen, we would be worse off despite having good conventional results. JMHO Jan