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

To: Paul Salber who wrote (12262)	4/24/1998 11:58:00 AM
From: Kim W. Brasington	Respond to of 20681

Paul: Sure thing Paul. We'll put it on a bit later so that people can have a reference point. Regards, Kim W.

To: Paul Salber who wrote (12262)	4/24/1998 12:11:00 PM
From: Kim W. Brasington	Read Replies (1) \| Respond to of 20681

Paul: As I stated a little earlier to Chuca that the drilling has just begun. The obvious purpose is to tell us more about Franklin Lake and its' precious metals content. Several things that could work strongly to the advantage of Naxos have killed other potential mines - stripping ratio and infrastructure. Stripping ratio is the ratio of junk dirt or rock that has to be removed to get to the pay dirt/rock. The higher the ratio, the more money has to be spent and consequently the tighter the economics. You will still have to pay the same cost to move a ton of junk dirt/rock as a ton of pay dirt. Seeing from drill results to date, there is uniformity insofar as having precious metals from the top down to "open to depth". Miners love low to non-existent stripping ratios. There are no jungles to run roads and electricity through at Franklin Lake. The infrastructure is largely in place - electricity from the Vegas grid (the fastest growing electrical usage are in the country) to paved roads (within several stone throws of the playa) to an ample water supply - over one billion gallons are evaporated annually from Franklin Lake that would not be anyone's loss. Naxos is looking forward to the continuing results from the new drill program. Regards, Kim W.