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

To: knight who wrote (14231)	7/13/1998 11:43:00 PM
From: Larry Macklin	Read Replies (3) \| Respond to of 20681

TO ALL: I have a few thought on the johnson-lett process. What value can it possibly have for the shareholders of naxos? The way i see it there are two possibilities. First, the russell report from all the 4 labs he is using shows good results. This will hype the stock back up and we can sell at a profit. That is the first possible value of j/l. Is that what we want? You all have to decide that for yourselves. The second possible value is in production. The only way that j/l can materially benefit naxos actually is to is at the production stage. It CAN NOT help us define a resource. It CAN NOT attract institutional investors. If we could prove up a resource using conventional methods there is a POSSIBILITY that something in the j/l process MIGHT help naxos increase recovery yields. We could never go into production solely based on the promise of the j/l technology because we could never prove up a resource with only j/l. No one would believe the numbers or that its economical. The only way to prove that j/l is economically feasible is to go into production on a large scale. Who would ever fund such a venture? No one would! Therefore, i strongly believe that it is critical for naxos to prove up a conventional resource if naxos has ANY chance of succeeding. The only way to fund production would be to raise money based on that resource. IN fact if we could prove a large enough resource using conventional methods we wouldn't have to worry about production costs because we would be bought out---plain and simple. Would it be nice to get good results on j/l from brian russell? sure it would! But dont let anyone sell you on those results being the savior for naxos. Naxos must have institutional main stream support for success. There is no other way. As the AGM approaches, please keep that in mind! Larry Macklin