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

To: Tom Frederick who wrote (12564)	5/4/1998 1:22:00 PM
From: Neal davidson	Read Replies (1) \| Respond to of 20681

Tom: I agree with your basic premise...the gold is what matters. A favorable resolution of the ASC matter might help naxos obtain a listing on the Nasdaq small cap market, and it might help to remove a cloud or two...but the bottom line is that the stock will truly appreciate only when those who make the buying decisions for the mutual funds feel that the rewards of ownership outweigh the risks. The more conservative the fund, the more proof which will be required. Having said that, if the ASC hearing panel rules that members of management and members of the board were guilty of transgressions, and further rules that news was not disseminated in a manner which was approved by the Commission or the Exchange, that could have a negative effect on the company's attempts to get a better listing in the USA and it could give institutional investors pause with regard to whether or not to invest their money in Naxos, when another opportunity is waiting for them just around the corner. I hope your positive prognostications prove to be accurate.