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

To: GlobalMarine who wrote (16102)	9/6/1998 10:12:00 PM
From: ShoppinTheNet	Read Replies (1) \| Respond to of 20681

Rand I am not sure what your point is. Let me say this, as I can remember Norton started to rise to power right before Sid took over control of Naxos. Since this time we have seem nothing but a steady decline in the stock price, except for the blip we saw on the Ledoux numbers. These were the numbers that Ledoux said were in error. We have to think back on Sid's last pr. It indicated that Naxos would some how split into two companies. If we guess, the two parts would be, one a company called Franklyn lake see if you can find the gold and the other company would be We will buy on the cheap and make it work. We must guess that the second company is where the assets would go. The assets being the Money generating machine and Norton. Lets now look at each part separately. Franklyn Lake: Naxos has tried for ten years to prove this property had the reserves. Everything has been considered from SFA to using plants to extract the gold has come up short. They are now after all this extensive time period and millions of dollars later at ground Zero. The only possible hope currently is J&L and a consultant. How long will it take for them to work this out? What possibly could the value of Franklyn Lake be at this point? Is it worth the $100,000 claim fee? Naxos has 30 plus million shares out standing. On a value per share basis you have very little value. Now lets look at the buy other properties plan. What does Naxos have as proven experience in making a plan like this work? Norton, Norton, and Norton. Other then this, the gray matter for mining gets real thin. For this plan to work Norton has to have a solid background and history of doing just this. Two questions come to mind. You all know the first question after this weekend. The second is has Norton ever done this very thing in the past? Has he ever found an underperforming mine, purchased it, and made it profitable? I saw nothing in his resume that indicated to me that he had. If any one can point it out to me please do. For value purpose for a company with 30 million some odd shares outstanding what is the value per share of this portion of the business as it sits now? Lets now remember that Naxos has a liability in the hearings with the ASC. If these hearings come out unfavorable, what would the cost to the company be? What will it cost to complete this hearing in terms of legal fees? We have heard the South American operations are valued at $3 to $4 per share. Yet some are claiming the operation has been sold. We have no way of knowing the truth. What value per share is this worth? Why could Naxos not make this work? Did Norton not run this? How much cash is on hand? At 1.8 million divided by 30 million shares it does not add a big value per share. I have to ask would Naxos not be better getting into Hamburgers or wraps and leave the mining to Hertz?