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

To: mfgrep who wrote (14492)	7/20/1998 11:16:00 AM
From: Tom Frederick	Read Replies (1) \| Respond to of 20681

mfgrep, In your line of work, it would be safe to say that there are times when a client asks you do get an order filled, which you know will be hard to fulfill, but you promise delivery because you have genuine confidence that your company can come through. You did not take the order intending to defraud, but to do everything you need to do fulfill your clients needs and get the order done with your genuine belief that you could meet the challenge. This is similar to the Naxos story in my opinion. A variety of tests have shown PM's in the ore over the years. But there is a big difference between showing PM's and consistently testing to prove a specific reserve. And it is this area where Naxos genuinely has believed all along that they would figure it out. The only reason we are in this situation today is because the check labs are having problems with the assays. Let's consider the following. Either A: All the testing from Ledoux has shown gold in varying opt's when there has never been any or B: The check labs have not got the testing down pat yet Good results from any secondary lab will put this right back on course, but for me, I need to have Ledoux make a definitive statement either on their own or through a Naxos release that they stand behind their numbers. There is going to be the battle of the egos here. Each lab will think of themselves as the "real" expert. And each will have to make its case. But the big pressure is going to be on Ledoux. And I believe that Ledoux has, up until this event, genuinely believed in its testing and therefor, Naxos has genuinely believed in the property. Tom F