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

To: mark silvers who wrote (12407)	4/29/1998 10:15:00 AM
From: jlallen	Read Replies (2) \| Respond to of 20681

With the number of issues "hanging fire", I don't think quarterly updates make sense. Especially when you have a core of strongly loyal shareholders who have really weathered some tough times with this company. Besides, doesn't management answer to shareholders? Who's working for who? JLA

To: mark silvers who wrote (12407)	4/29/1998 1:56:00 PM
From: ShoppinTheNet	Read Replies (2) \| Respond to of 20681

Mark thank you for responding to my post! Also thanks to all who have contacted me thanking me for expressing my view points. Now please let me respond to your heartfelt concerns. "Actually they can and do. There are a lot of internet stocks that would currently fall into that category" The analogy of the internet stocks (lets consider tech stocks as well) is not valid in my mind. The reason is this. You have to look at these two groups of stocks as shooting stars that light up the sky and then burn out as fast as they arrive. today's technology advancements are moving at a speed faster then light. A new hot idea today causes money to flow quickly to it. Profits are made and the product dies. Cash cows are hard to develop in this industry. The product comes to market and is obsolete at the same time. Today, companies operating in this field either have to keep coming out with new ideas or they falter like a buggy whip manufacture. Global markets effect these stocks to a large extent as their products must be sold globally instantly to recoup the R&D costs in a very short time frame. These and several other factors cause the violent swings. Do these stocks get ahead of them selves or are they flashes in the night? What can effect the price of a stock like Naxos (Henry will correct me if I am wrong here)? IMHO it is to some small degree the price movement of precious metals in regards to the global market. The major effect of price swings is the markets expectations of the viability of the property based an available information put forth by the management of the said company and or other known information concerning the property in the public domain. Yes several stocks in this category do fluctuate wildly and so does the information concerning them. Why did IPM drop? New information came out showing lower then previously indicated results. Naxos dropped from its highs when they indicated concerns with the J&L procedures, the withdrawal of numbers reported by Ledoux on the J&L procedure, and lower then anticipated numbers resulting from their new SFA procedure. My question then is who got ahead of whom? Who or what is responsible for this movement? I do not know of one, off the top of my head, but I can tell you that if a Jr. mining company presents a exploration plan, and proceeds on a steady course, you would see the stock movement of that company move upward on a steady basis. Thus limited peaks and troughs, compared to Naxos. That would in my mind be a solid jr. mining stock. But wait you say, that is the way the industry works. So change it! Its broke fix it! "$10 for a stock with NO holes(at that time) and an unproved black box process is over valued. Granted, it is easier to see that in hindsight than it was at the time, but it IS overvalued none the less." Were you making these statements at the time the stock was at $10? "Some one posted last night(I cant remember who) that they are tired of hearing from people that thought the stock was undervalued, that it is now overvalued or at fair value. If you are speaking about Henry and I, I think that you have to differentiate between potential value and current fair value. They can be mutually exclusive targets". "If you are speaking about Henry and I, " I did not make this statement and you yourself pointed that out. So why would you attribute it to me? Fair is fair! Apology accepted! "The problem, IMO, is that you and a few others think that the company is obligated to give you more information than they are required to." In my post, I clearly stated that I would not pressure anyone for any information not public. No were in my post did I state, I expected weekly updates. Nor did I express any displeasure with any reporting time frames. I myself have greatly reduced contact with the companies IR people as to not pressure them for such information. You can bank on the fact that I have expressed concerns about information leaking out. "No Professional company gives minute by minute, blow by blow details of the everyday workings of the company. they should give us clear and concise updates on a regular basis. For many companies, that means quarterly." I agree with you that they should be clear and concise. Quartly? They should be as frequent as needed? It should never be leaked! I do also agree with JLA and his post regarding the matter. "Also, you told us what you agree with as far as other peoples posts, and how you plan to monitor your investment. You didn't say anything about the plans of the company and what you like or would do differently. that is what I was looking for" Regarding this you are right. I did not state that. I told you my plans for the ownership of the stock. What I like about the opportunity is this properties potential. As for what plans I have for its day to day operation, well that is a fools trap! If you want me to give an honest decision on that, you will have to have Sid call me and give me the full details on what is going on so that I can make a sound business decision. I am paying Sid to have the plan. If Sid wants me to do it have, him send options. If I was unhappy, and thought a replacement was in order, and I had a plan, I may or may not share it with current management. That would be up to me to decide. You may want to read the disclaimer on my post. No where in the entire post did I indicated I was unhappy with anything at this point in time. I feel that I indicated to the unemotional reader that if anything I was neutral, open minded, yet watchful. You may also be interested in the fact that I have given my word that I personally would cut the company some slack on this subject to allow new management to set their plan in action. I have kept my word and still intend to. If I do have concerns in this regard, I am not willing to go against my word, simply because you pressed for it. In closing, I feel I have been more then fair with you regarding your questions. I also feel that I have considered your concerns and addressed them in a fair and just manner. As always feel free to disagree or an ask for clarification. Your friend and fellow stockholder. S.K.