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

To: Richard Mazzarella who wrote (12912)	5/16/1998 10:42:00 AM
From: Mr Metals	Respond to of 20681

I don't feel good when I have to agree with Metals. LOL:-) Mr Metals

To: Richard Mazzarella who wrote (12912)	5/16/1998 12:55:00 PM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 20681

Richard, With all due respect I disagree. In my recent posts I have been trying to address this point. If your definition of a desert dirt is the narrow definition that it is a company located in the desert and the deposit it is targeting is in dirt as opposed to hard rock then yes Naxos is a desert dirt. But I believe most people understand a desert dirt to be a company with those characteristics plus the pursuit of a high cost proprietary extraction process. These processes require technological breakthroughs and require multiple ounce per ton grade to be economically viable. That is not the current situation with Naxos. The Johnson/Lett process is not the main focus and not the reason I remain invested in Naxos. The company is pursuing a conventional deposit that can be exploited with standard low cost extraction process. Look at the company's recent press releases. Look at Kim's recent comments. Look at Mr Goth joining the board. Mr Goth has experience in the conventional mining industry, he is on the board of other conventional mining companies. He is not on the board of other desert dirts. Every thing the company has said and done since Jimmy John stepped down as President has clearly pointed towards a decision to pursue a conventional deposit. Prior to Jimmy John's resignation, Naxos was a desert dirt. I bought in on that basis and on the prospect of a proprietary extraction process. After much research, investigation and due diligence I have come to the inescapable conclusion that I must have been out of my mind. I believe many others have decided the same (about themselves but also perhaps about me). I have very little faith in the prospect for these proprietary extraction processes and have indicated why in previous posts. If the only reason to be in Naxos would be because of the 'desert dirt' theory I would sell my shares, take my loss and move on. But the direction of current management and the decision to pursue a conventional strategy plus the recent assay results indicating this may be viable strategy appears to me to justify continued involvement. But only for the prospect of a conventional mine. Not for some pie-in-the-sky 'desert dirt' theory. Henry