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

To: Henry Volquardsen who wrote (12805)	5/13/1998 10:55:00 AM
From: mark silvers	Read Replies (1) \| Respond to of 20681

Henry, I said the same thing a few weeks ago, during the valuation imbroglio. It seemed to be causing some people to get angry, so I just let it drop. Mark

To: Henry Volquardsen who wrote (12805)	5/14/1998 1:57:00 AM
From: sh	Read Replies (1) \| Respond to of 20681

Henry et al., What exactly is it that you are agreeing with? That Naxos should hold off on releasing any results of the expanded drill program until the entire program is completed? Do you have any idea how long it will take to complete this program (btw, are we talking about the 28 holes, the 68 holes or what?)? As I recall, BD began the five hole drill program about a year ago and we have results from only 2 « to 3 holes. Even assuming they're able to improve upon that 10 fold, that would mean (just based on the 28 holes) we should see a complete report in seven to eight months. I sincerely hope they can do it in that period of time, but given the history of Naxos I am extremely skeptical. In any event, if the company intends to do what you are apparently advocating, the company should inform its shareholders of this. I for one would want to decide how I want to proceed with my investment in this company based on such a scenario. I personally believe it would be a terrible move on the company's part, but if it decides to go that route, so be it. I may decide to stay the course until the shareholder meeting that was moved to July. However, I cann't make a decision in a vacuum. I would want to know immediately the direction the company has decided to take. Regarding those other mining development companies that you referred to Henry, do you mind going into greater detail about what they did. For instance, how long were they in existence before they began their drill programs, how extensive were the programs, how long did it take for them to complete the programs, do they have unconventional properties like Naxos, how many developed mines does the group have in comparison to undeveloped mines, do they have regulatory and management problems like Naxos, and the like. Regarding the comments about the company's valuation, if it pleases everyone, based on results from just three holes, I agree, this company is indeed overvalued. If I were a new investor and that is all I had to go on, I would not touch Naxos until I had many more results. However, Naxos was not born with the results of those three holes. It has had extensive prior testing and I for one do not disregard those results. If I did, I'd be foolish for not selling at $3 and waiting for more results. Finally, why are you seemingly disregarding the multiple ounce per ton results? Am I missing something? I do not recall seeing any release that said they were flawed. We may have been told that they may be the result of some unique areas that contain "free" gold or something to that effect, but I have never heard there was anything wrong with them. If anyone is privy to some other information that is not mere rumour, I'd like to know about it. sh