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

To: jlallen who wrote (11531)	4/6/1998 1:26:00 PM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 20681

When I checked earlier there were definitely 200,000 shares offered at 4 1/8. One possible explanation is that it could be a large shareholder selling stock to raise cash to exercise warrants. A week or so ago I was discussing the firm's cash position with IR and I remember being told that there were some warrants expiring shortly that they expected would be exercised and this would help the cash position. This large seller could be associated with someone raising cash to exercise expiring warrants.