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

To: Tom Frederick who wrote (14176)	7/10/1998 2:21:00 PM
From: Tom Frederick	Read Replies (2) \| Respond to of 20681

I am just wondering about what most of you think (not feel) about current events. The stock price is moving down with a very, very small percentage of shares trading hands. And that is based on...the usual. No news. What is different this time? I guess the level of speculation, the doom and gloom chain rattling of Al C, the slipping stock price. This is a very old and very predictable Naxos pattern. No news, speculation, more speculation, dropping stock price, then...a news release and we are back on track with numbers and progress. Whatever the status with testing, I personally am convinced the PM's are there based on the work of Paul Blumberg. What we don't know yet is just how much is there, what the method of recovery will be and will it all be economical. Important issues. Serious issues. But in my personal estimation, issues which can be addressed and overcome. Might that include the J/L method or some variation? Sure, but all this infighting about rushing back to the insecurity of J/L method becuase we used to see a stock price of $5.00+ when it was being tested is misguided reasoning. That price was not supported by anything other than ourselves dreaming of the billion ounce deposit. And the method NEVER, and still not to date could produce repeatable results. At this juncture, Ledoux has produced dozens and dozens of tests all falling into somewhat reasonable ranges of results using what the industry accepts as "proof", SFA. I believe the J/L process has much to offer, but to use it as a lead dog right now, would reverse the SFA direction that has brought on board CPM Group and gotten us off everyones "don't trade that one" list. A company called Golden Eagle was just in the press in USA Today who announced in a company press release a deposit of 154 million ounces. They "claimed" to have "proof" with thousands of assays from over 700 sites on the property. Well the SEC got ahold of this and suspended trading once they saw the report. One of the key features was some sort of "black box" testing, as opposed to SFA, which was used to come up with the numbers. THAT was the key reason it was shut down. (they are trading again, but on Pink Sheets until they get their act together) Yet another example of leading with unproven technology. Let me be clear again. I believe J/L has much to offer. And I believe testing should continue. And I believe eventually J/L will prove invaluable in the recovery process. But I don't think its worth upsetting the whole company and the shareholders to debate if it should come back as our lead technology to assay this ore. Not without a mountain of COC, certified proof. Thank you all for reading this very long post. Tom F.