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

To: Larry Macklin who wrote (14232)	7/14/1998 6:34:00 AM
From: Henry Volquardsen	Respond to of 20681

Excellent post Larry. You've done a really impressive job of digging and analysis recently and I for one am tremendously appreciative. I tip my hat to you, the one with the Yankee logo that SER will be wearing at dinner in a couple of months ;) Henry

To: Larry Macklin who wrote (14232)	7/14/1998 7:57:00 AM
From: mark silvers	Respond to of 20681

Larry Great post. I think that conventional is definitely necessary to pursue, but I would very much like to see J/L pursued also. As Henry has said in the past, there is a very real possibility that J/L will be able to considerably increase yields. NO one is saying that conventional is the optimum method for recovery. What many are saying is that it IS the optimal method for gaining credibility and proving reserves. We should be doing this within industry accepted norms and methods. Naxos Resources is not going to be able to successfully buck the entire mining industry and change a 100 yrs of history in the way they do business. We can gain credibility and then do whatever it takes to be successful(J/L?) Mark

To: Larry Macklin who wrote (14232)	7/14/1998 8:00:00 AM
From: Max Haber	Read Replies (2) \| Respond to of 20681

Naxos needs to pursue BOTH conventional and research the unconventional. Naxos like most companies, needs research to do things better, faster, cheaper and in the Naxos case, higher yielding. RESEARCH AND INNOVATION will create increased shareholder value. The conventional approach that began a long time ago at Ledoux is also extremely important. With the conventional approach we can use "conventional" valuation methods and THEN attract the support Naxos needs for the future. Keeping further dilution at a minimum. As management said in the CPM announcement-- no additional private placements until fall. I do not believe that ANYONE is even considering stopping the conventional approach. To me it appears me that some, including myself, want to bring science and technology into the mining industry. Look at it this way- - - - if the Johnson/Lett method can increase the conventional method by only .03 to .05 oz/ton thats HUGE. Really huge. Let the research continue without delay. Keep the conventional results coming. Max