To: Henry Volquardsen who wrote (13864 ) 6/25/1998 6:43:00 AM From: Kurt R. Read Replies (1) | Respond to
Henry:"But hindsight is 20-20." The "straw that broke the camel's back" so far as your editor was concerned was the provision in a recent agreement with Johnson-Lett & Company in which the President of Naxos will be granted irrevocable proxy to vote upward to 10 million shares of stock to be issued to Johnson-Lett as part of the agreement. President John's ability to vote this block of shares virtually ensures he will retain control of this company for the foreseeable future. With the current managerial structure remaining in place, it is hard to see how past behavior will change. Had Naxos welcomed into its senior management experienced mining personnel, your editor would most likely have "stayed the course" with Naxos. But the consolidation of power within this company ensures that experienced mining people will not be called into its inner sanctum for the foreseeable future. That's unfortunate because after all, mines are made, not found. In my opinion, the current management team does not have a clue nor the inclination to hire those that do have a clue about building a mine." Message 3278314 Message 3366728 Message 3715954
