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

To: Henry Volquardsen who wrote (15798)	8/20/1998 3:49:00 PM
From: Tom Frederick	Respond to of 20681

Henry, expanding on that point, it does seem very clear that management was caught off guard just as much as we were. As there was a deliberate decision to NOT release the next 8 holes of numbers from Ledoux until they got verification, management took a very responsible and very honest approach with the shareholders and the market. So in that sense, we owe them some respect for holding back on the Ledoux test results from holes 3 - 10 which I assume were indeed good and would have pushed the stock up for a time, that is until the check labs came out with contrary results. The next moves need to be well thought out, almost bullet proof, and offer a clear path to cash flow and the profitability / survival of Naxos as a company and FL as an ongoing project. Let's see what they have planned and we can each make up our minds as to our comfort levels. Tom F.