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

To: Henry Volquardsen who wrote (13857)	6/24/1998 4:49:00 PM
From: GlobalMarine	Respond to of 20681

OFF-TOPIC: I started a new thread recently, for anyone who's interested: Subject 20772

To: Henry Volquardsen who wrote (13857)	6/24/1998 10:04:00 PM
From: Henry Volquardsen	Read Replies (3) \| Respond to of 20681

I would like to post something for the record. I received the following question by private message: Henry: You say J/L is ancient history. Does Naxos get the $250,000.00 back? It is not important who the message is from but fwiw it is absolutely not from whom many of you might guess. This is a question that has come up before and I thought I would post my answer on the thread to save me from having to type it again in the future. I also included the last paragraph so that the recipient of the post couldn't say I wasn't posting the complete response. And yes I know I am thin-skinned. You know the answer to that. Of course they don't. First off they are still investigating it as an ehancement technique so they don't believe it is a complete write-off. Second, if it is a complete write-off they won't have been the first company to spend money on research and have it come up empty. In retrospect spending the money on Johnson-Lett appears to have been a mistake. But hindsight is 20-20. I recall very clearly how many people on the thread thought spending a 'mere' $250,000 to lock up an option on Johnson-Lett was a great deal. Well now we're all experts in retrospect and you want to castigate the company for having made a bad call on making the initial payment. Do all the companies you invest in make every call right? I prefer to focus on the fact that they had the fortitude to not proceed with the deal and turn over a few million dollars and millions of shares. They did this in the face of a lot of shareholder pressure to do the deal. Management of this company is not perfect. I don't like everything they have done in the past. But I prefer to focus on the current situation and what they can do now. Btw, for future reference I am not interested in receiving snide private messages from you. If you want to ask me a question, ask it in public. Henry