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

To: Jerry in Omaha who wrote (15838)	8/21/1998 5:39:00 PM
From: Tom Frederick	Respond to of 20681

Jerry, You're having an out of body experience aren't you! C'mon. Be honest. You are now channeling for Graystoke or Chewy or someone. I can't believe this is that good ol' Jer' who had such great confidence in this venture. Now, let's finish the week on a high note. Naxos has had lots of reasons to look at a piece of real estate in its ongoing search for properties which others have not yet found or been able to prove valuable, hence the current availability of the property in the first place. In that search for hitherto unexplored or unproven properties it is part and parcel to prove what others have missed or not seen at all. Franklin Lake is like a great mineral puzzle that draws in the property owner daring the owner to find just what it is that lies in that deep clay deposit. It was unlikely that Naxos ever thought this would end up being in a position which as you outline "in the business of proving something true which heretofore has been un-provable by acceptable industry standards" However, so much testing has offered glimpses into the real value of that rich ore as to keep drawing them in deeper and deeper with the brass ring dangling oh so close all the while. And that is exactly why each of us invested in Naxos. We all saw that brass ring as well and we're pissed as hell that it hasn't been snatched up yet. Well, if this ore turns out to be just as complex as we have always understood it to be and SFA just isn't the answer, we each have to decide if the metal is there. I have stated many times that there is too much testing that shows metal to believe that Nothing is there. So my chip is on the table. What I don't know is how long the game takes to finish the hand. But I am willing to wait...for now. Hang in there Jerry. We're all in this together. Naxos was hurt just as much as we were by the ledoux meltdown. Let's see where they want to take us from here. have a great weekend. Sincerely wishing you the best Tom Frederick

To: Jerry in Omaha who wrote (15838)	8/21/1998 7:20:00 PM
From: Larry Macklin	Read Replies (2) \| Respond to of 20681

jerry, now you have completely lost me so i must be an idiot! Why couldn't you buy a property before it is completely researched? Seems like a lot of jr mining comanies do just that. Naxos researches. Naxos develops. And yes they do buy properties. They could most likely get into any other business that the board sees fit to enter. Companies change direction and aquire other businesses all the time. Sometimes they aquire businesses that are completely different from their main business. They do this in an attempt to increase shareholder value. Sometimes they are successful and sometimes they are not. Of course, if a shareholder disagrees with a companies desicion to aquire some other business he is free to express his opinions or to sell his shares. I think the management of any successful company must be prepared to stop on a dime and change direction if need be. If companies do not evolve and change then they will die---that i can gaurentee you. Regardless of what i have said i am sure you will have some type of comeback to dispute me but i feel i have made my point and that is the last i will say on the subject so go ahead and take your best shot! Thank you Larry Macklin

To: Jerry in Omaha who wrote (15838)	8/22/1998 6:49:00 AM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 20681

Jerard, Message 5553247 I just spent some time doing routine maintenance on an ATV roving the playa helping to make sure the paperwork on all the "lots" we have staked out was properly displayed. Believe me, before anything else, it's real hot estate out there. So that explains your "real estate" observations. You've been spending time at Franklin Lake. Yes it is real hot and the sun is pretty intense. And we all appreciate your efforts on our behalf. But next time wear a hat. Henry