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

To: mark silvers who wrote (12245)	4/24/1998 10:32:00 AM
From: W.F. Schwertley	Read Replies (2) \| Respond to of 20681

Mark, Looks to me like the gold numbers are dropping compared to previous press releases. Below are listed previous released numbers first and today's numbers last. Looks about like a 20% drop in gold assay results. As time goes on these numbers look more and more like IPM, MXAM, and other DDs. I hate to think about their share price. 4 0'-10' ASE assay method 0.171 4 10'-20' ASE assay method 0.190 4 20'-30' ASE assay method 0.178 4 25'-50' 0.134-0.222 4 30'-40' ASE assay method 0.176 4 40'-50' ASE assay method 0.180 4 50'-60' ASE assay method 0.182 4 60'-70' ASE assay method 0.187 4 70'-80' ASE assay method 0.185 4 80'-90' ASE assay method 0.185 4 90'-100' ASE assay method 0.196 4 100'-110 ASE assay method 0.201 4 110'-120' ASE assay method 0.214 4 120'-130' ASE assay method 0.216 4 130'-140' ASE assay method 0.210 4 150'-175' 0.120-0.181 Depth Gold oz/t Platinum oz/t ------------------------------------------- 0' - 25' 0.029 0.029 25' - 50' 0.178 Not Assayed 75' - 100' 0.035 0.085 100' - 125' 0.021 0.047 125' - 150' 0.026 0.038 150' - 175' 0.181 Not Assayed 175' - 200' 0.062 0.015 200' - 225' 0.022 0.015 225' - 250' 0.031 0.028 250' - 275' 0.043 0.022 275' - 300' 0.056 0.025 300' - 310' 0.025 0.025 ------------------------------------------- Average 0.0675 0.0329 ------------------------------------------- Gold Equivalent 0.0675 0.0449 ------------------------------------------- Total 0.1124 -------------------------- *T

To: mark silvers who wrote (12245)	4/24/1998 10:36:00 AM
From: RRG	Read Replies (3) \| Respond to of 20681

Mark--you said "the numbers themselves appear to be mediocre to me"---and I would agree. BUT: 1. We are beginning to prove consistency and probable homogeneity. 2. There is one helava lot of tonnage at FL. 3. We are showing the presence of platinum. 4. It's possible the J/L process could enhance the yields. 5. There appears to be a business plan in place that makes sense. SO---it's not all bad. Could be better and could be worse. How will the market view this? You will have to buy to S.K.'s service to find out. Bob Goldstein