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

To: knight who wrote (14444)	7/18/1998 8:49:00 PM
From: Larry Macklin	Read Replies (1) \| Respond to of 20681

let me tell you all something about "black box technology and johnson-lett" for JOHNSON-LETT to PROVE that the technology works what must be done? Some of you will say that good numbers from brian russel and myntek PROVE that JL works. Im sorry but that is not the case. WE have lots of good numbers from ledoux, does that PROVE the conventional toute will be a success? No it doesn't. We would need to verify those numbers and then we would need to PROVE that it is economicly viable. The same is true of JL........we must be absolutely sure that the numbers are right and we must be ABSOLUTELY sure that it is econimcally viable. Well, how do we prove that it is economically viable? I suppose we must go into some kind of production. To go into production, based on russells numbers, we first need to know what exactly the johnson-lett process is. Supposedly it has evolved quite a bit over the last few months. Does anybody have any idea what it is or how it works? Since it is not patentable how to we gain access to it. Does lett just tell naxos how it works and trust naxos to pay them? I dont know but i think that if russells numbers are good and the mgmt at that time wants to proceed with JL it wont be a sure thing that naxos can work out a deal with JL. I think it is going to be much more complicated then most of us think. We need to keep our options open. We need to ensure that naxos has a reasonable chance to survive in the LONG RUN. If we throw out current management and any hope of proving up a conventional property then we put our fate and money in the hands of Austin Lett. I am not saying that he is not a good person but i dont believe that his interests are neccesarily the same as naxos shareholders. Conventional is only dead if YOU want it to be dead! There are lots of options out there and lots of questions that are not yet answered. Don't give up on conventional methods and current management just yet. If you do then you limit our options solely to JL and we have no idea if JL can make this company a long term success. Thank you Larry Macklin PS...I believe that ledoux came to us on the recommendation of Allen & co and ledoux has impeccable credentials. Don't blame current management if it turns out that ledoux has no balls. It was the correct choice at the time.