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

To: Ed Lamb who wrote (12415)	4/29/1998 1:52:00 PM
From: Tom Frederick	Read Replies (1) \| Respond to of 20681

Mr. Lamb, to answer your question "what happens after this (68 holes) is complete?", Kim has answered that one very clearly. We will have obtained an inferred resource of 38 million tons. At an average of .11 on gold and platinum alone, that would equate to 4,180,000 ounces gold equivalent at a 25% "inferred" valuation or about $313,500,000. Divide that by our 30 Million Shares and you have $10 per share. In other words, this very small section of the playa at a 25% valuation would triple todays stock price in REAL value based on REAL ore projections. With an infill program, still on 38 million tons alone we would move to 75% valuation or $30 per share. (of course that will be minus production estimates etc., but you get my point) How hard do you think it will be to get someone ELSE to foot the bill to find out how deep, how far, how rich the rest of the deposit is? Please let's think about this logically. They MUST drill first and if that drilling with SFA testing can create real concrete value with inferred, probable and eventually proven reserves sufficient to warrant a 10 fold increase in the real value of this stock, give me a hard hat and point me to the playa. Tom F.

To: Ed Lamb who wrote (12415)	4/29/1998 2:11:00 PM
From: mark silvers	Read Replies (2) \| Respond to of 20681

Ed The problem with starting up a pilot plant now is that you dont have a recovery process. Without a recovery process you cant set up a pilot plant... As far as beng overvalued. Just because there are stocks that are overvalued, doesnt mean that naxos gets to be one of them. Thats why its called OVERvalued. A company with 2 holes, a dubious past, and an ASC charge hanging over their heads does not usually make the overvalued list. AS far as everyones perception that the non coc tests are meaningless, I strongly disagree. I think as long as the numbers continue to be in line the have great meaning in one specific area. The become a great indicator for potential future test results. That becomes VERY important as more numbers come in and you get closer to a resource statement, indications of future test results will be VERY handy. mark