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

To: jlallen who wrote (13528)	6/13/1998 1:33:00 PM
From: knight	Respond to of 20681

JLA, just a few comments on PP's. From my experiences, PP's for junior explorers are almost always done at lower share prices. The placees are usually close to the stock so the promoter wants to see these people make a return on their investment to stay in their good books for later financings. Share dilution seems to be the last thing on the insiders minds, the company needs cash and a PP is easier, quicker, and less costly than most other methods of raising capital, especially a non-brokered PP. I don't know what the details are on this latest PP, eg; hold period, flow-thru, attached warrants, etc. I haven't been following the thread that much as of late, so if I'm rehashing old stuff, please accept my apologies.

To: jlallen who wrote (13528)	6/13/1998 10:24:00 PM
From: soxan	Read Replies (1) \| Respond to of 20681

I didn't disagree with you about the pp. In fact you should remember I sided with you and not with Henry. I just don't think it was a big deal though. If mgt. thought it was prudent then to act I can live with it, but yes they could have gotten a higher price by waiting. I agreed with you on that also.I also feel we need a very strong CEO but I don't want one that would take high risks,(cowboy type). We maybe arguing samantics. FinallyI believe 30 million shares total, including outstanding options or warrants. Thanks soxan