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

To: mark silvers who wrote (15772)	8/20/1998 9:29:00 AM
From: BGM	Read Replies (1) \| Respond to of 20681

Mark: In the course of these conversations, what does Sid think are the steps to address the current situation? Brad Mertz

To: mark silvers who wrote (15772)	8/20/1998 9:39:00 AM
From: Tom Frederick	Respond to of 20681

Mark, that is my take also. If you stand back just a bit...well maybe a little farther...no, a little farther..............OK, right about there. If you stand WAAAYYYYYYYYYYYYYYYYYYYY back there, it seems that Naxos has gone through three distinct phases in the ore testing. Phase one was "anything goes" and they saw all kinds of non-repeatable numbers. Phase two was "almost anything goes, but please try to prove it works" in which some very exciting numbers were produced with some degree of accuracy in terms of expected ranges, but it was not truly repeatable. However, at this point, the volume of testing was clearly pointing to the existence of gold and PGM's in the FL ore. Phase three was "what the hell are you guys doing! You must use SFA or no one is going to listen" at which point Naxos was talking to big money opportunities to fund this project and SFA was the key to unlock the money box. All of the sudden, after years of no luck with SFA, Ledoux says, "hey, SFA CAN work. Watch this!" at which point Naxos people scratched their collective heads, rubbed their eyes, checked their bearings to be sure they didn't fall into a time warp or something and said, "well, if you guys are sure, then let's push ahead with SFA". Now here we are. Ledoux and the check labs have, after another wasted year of SFA, proven AGAIN that SFA either doesn't work or at the very least is so complicated that one of the top referee labs and two top check labs can't get to work. So, if we can just do one of those "men in black memory erase" scenes here and forget we ever tried SFA, we are back to the basics of accepting that FL is a complex ore for which some non standard methods of testing seem to hold some promise. Let's see what Brian Russel has to say about J/L or any method of testing that will work. J/L has had another year to work out the bugs while we have fiddled with SFA. I for one absolutely believe that there are PM's in the ore at FL. What none of us know, is just how long it will take to arrive at ONE method of testing and ANY method of recovery that will transform FL from being a very hot, very dry, barren spot in the SW United States, to a Very large Very profitable PM resource. Good luck to us all. Tom F.