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

To: bill maghan who wrote (15919)	8/29/1998 10:19:00 AM
From: jlallen	Read Replies (1) \| Respond to of 20681

Many interesting questions flow from that last "shareholder letter" which I have not seen as yet. As to the parts which have been quoted on this thread I do have a few queries. First, exactly what steps are being taken to stem the capital burn rate? Are non-essential personnel being laid off? What portion of the money paid to Ledoux for the faulty results will be recovered? Shouldn't Ledoux foot the bill for the ill-fated drill program which was undertaken on their recommendation? Second, on Venezuela, exactly what do we have there? Is the operation truly breaking even or is that just more creative accounting? Is the project in operation? What could it be sold for? JLA