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

To: mark silvers who wrote (12346)	4/27/1998 3:38:00 PM
From: Tom Frederick	Read Replies (1) \| Respond to of 20681

Mark, what one COULD say only assuming the .11 equivalent on Gold is possibly the following. The .11 was based on gold and platinum alone. It is well accepted that in any platinum deposit the platinum group will be present as well. The metal of most interest to us for manufacturing is palladium used in dental work and catalytic (sp?)converters. Palladium generally occurs at a 3 to 1 ratio with platinum so what that does to the .11 is adds another .06 or so. Now we are up to .17 equivalent. Based on even 2 billion tons (which I believe is modest knowing that we have metal to depth with no tail off) that adds up to 340 million ounces equivalent. Now, as Mark states, we don't have any of the other numbers to be able to put a value on the stock. Cost of recovery facility, cost of recovery process, final total metal content, actual recovery rate per metal, who else is interested, etc.. Many questions will need to be answered. But one issue will remain. That is ALOT of precious metal in the ground and with easy access etc. there is no way in my mind the mining community will let it just sit there. Like those public service announcements say " A mine is a terrible thing to waste". (I had to say that) We have plenty of hard data coming up. The age of speculation is quickly coming to an end. The age of facts, figures and fortune are upon us. We just don't have quantification yet. Regards, Tom F.