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

To: Larry Macklin who wrote (14488)	7/20/1998 9:55:00 AM
From: BGM	Read Replies (1) \| Respond to of 20681

To all: Can anyone give a list of who is classified as current management and who is classified as JL? Can you also say why you think they stand there? Brad Mertz

To: Larry Macklin who wrote (14488)	7/20/1998 10:20:00 AM
From: Tom Frederick	Read Replies (3) \| Respond to of 20681

Larry, I agree with your position on this. The monumental frustration is that Ledoux had after a very long time and many, many tests shown us shareholders good solid, apparently repeatable SFA numbers from holes 98-1 and 98-2. And as I understand there are a number of additional holes completed which also had promising numbers (though I have not been told what they were to be honest). The frustration lies simply in that if either of the check labs were able to produce similar results, this Monday morning could be a very different day. And yet, if a "problem" can be identified by and at Ledoux then it is back to square one with gold testing anyway. In talking to Russ, he mentioned that in the last rounds of testing with Ledoux there were plenty of checks and balances put into place to ensure the accuracy of the results. Blanks came out on the mark which is not possible if the overall testing is not accurate. There are many things that must be explained but it seems clear to me that too many methods of testing over too long a period of time have clearly shown PM's in the ore. These many a varied test methods have shown numbers in all kinds of ranges. But historically the only tests which in the past consistently produced no results or poor results were SFA testing. And it is this same test method that, until last week, we seemed to have had a clear indication that Ledoux had conquered. So where does that leave us? If Ledoux cannot repeat and confirm the results from the last tests and/or identify the "problem" as something in the check labs work, then we are left with the more profound question of the FL ore and how it MUST be tested. We may want desperately to prove this up with SFA, but unless multiple labs can use the same method on the same ore and come up with at least similar methods, what we want and what is necessary may be two different things. If institutional support lies in SFA, Naxos must plow ahead with perfecting this method. But if the FL ore is truly unique in the world of mining and PM's, then Naxos would also be well served to continue it's parallel search for any and all methods of enhancing and perfecting both assay and recovery methods to reveal the full content of this ore. As I have stated many times on this thread, I am more interested in events than time tables. This is certainly not an event I was interested in seeing. How this is resolved will be an event that does indeed require careful review. Let's hope this is just a bump in the road. Tom