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

To: Jerry in Omaha who wrote (14074)	7/8/1998 10:21:00 AM
From: Larry Macklin	Read Replies (1) \| Respond to of 20681

It is clear that there are certain investors that are pushing hard for johnson lett to be the primary focus of the company again. I understand the frustration of these investors however it is clear to me that we must continue to lead with the conventional approach and keep j/l in the background. All of you need to understand something: J/L has NOT been proven to work yet. The metalurgist that carl referred to in his letter is a very competant man but he has not had any successful results from a CERTIFIED lab. He has chosen to use non-certified labs in the US. There are two south african labs that will be testing the process. One of them is myntek. If myntek can up with consistant and repeatable results from COC ore that would be great. If that happens naxos can make a deal with j/l and start a production plant. That doesn't change the fact that we still need to prove a resourse using conventional methods in order to get any interest from the investment community! Some poeple are pushing for the removal of sid and to put j/l on the forefront. This would be a disater. What if it doesnt work? We still have no proof that it does. We need to see consistant, repeatible results on COC ore from more than one certified lab that shows that j/l works. Abandoning conventional methods now would be like putting all our eggs into the j/l basket again and there is absolutely zero proof yet that it works. We must continue our current path of proving up a conventional resource. We must keep j/l in the background until proven beyond any doubt. We must keep the current management team in place. If it can be proven that j/l works that will be great for all of us. Current management would be thrilled with that, im sure. However, until that time comes lets not throw away all the progress we have made over the last few months. Thank you Larry Macklin