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

To: Richard Mazzarella who wrote (14613)	7/22/1998 11:59:00 AM
From: Henry Volquardsen	Respond to of 20681

Richard, It would be hard for me to argue against the evidence of the speculative nature of Naxos as an investment. I really haven't argued with the people, such as Stoopid, who have talked in favor of buying dips and taking some trading gains. That is a strategy that will work. I can't trade that way because my compliance dept requires I hold all positions a minimum of three months. So no flipping. You are correct that I have argued for a more conventional posture. I believe that there is metal and Franklin Lake and that Ledoux will eventualy be able to certify its results. My growing concern, and this predates Ledoux's retesting, is that there are to many special interests among the large shareholders who fervently believe in alchemy. This means that no matter how much progress Naxos makes towards a conventional resource there will always be pressure to go chasing rainbows. I believe this will present a tremendous and perhaps insurmountable challenge to Naxos as a company. I do believe the stock will make a conceerted move higher again and I will use that as an opportunity to significantly reduce my exposure. Henry