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

To: Henry Volquardsen who wrote (16190)	9/10/1998 5:11:00 PM
From: Tom Frederick	Read Replies (3) \| Respond to of 20681

Henry, you have made several excellent points. The problem you have getting through to some is that you are looking at this as on ongoing business activity and its results, while others look at the lost opportunity to have sold at $10. Not that any of us wouldn't have sold at $10 had we been more realistic about current events of the time. As an overview, what I see is old management who were willing to listen to anyone with a new way to get at the gold, with little or no effort to verify and a great willingness to publish any good results, and the NEW management who had seen good results but wanted more accountability. The new management embarked on a program with who they considered a reputable referee lab. This lab produced promising results, and with no reason to doubt them with that reputation, ran with the ball. New management then hired a key industry expert to verify to work but still had great faith in the results from who they considered, and the market as a whole for that matter, as a reliable referee lab. The referee lab produced results that made sense and produced results that had been dogging the company for years, SFA results in economic levels. It was not surprising that new managment wanted very badly to get the SFA thing licked, but their interest to not get into misleading reporting lead them to hiring John Norton to be sure what they were seeing was correct. And we know the result from there. It is hard to let go of all the dreams of $1,000 shares and take a fresh look at where we are now and what Naxos wants to do, but that is what we must do. Taken at face value do we agree or disagree, have confidence or no confidence in the new direction? I believe that it is an honest and intelligent direction on the part of Naxos to take advantage of a buyers market for properties while using the on staff talents of a man who had already proven he knows how to process ore profitably from the ground up. Let's see the plan and then we can decide. But if we allow this dark cloud of disappointment to hover over us, it will be hard to see the new deal clearly for what it is. Disclaimer: To those who just want their pound of flesh, these are my personal observations and beliefs which are not intended to sway anyones view and do not represent any group or camp or anyones opinion other than my own, so please feel free to offer your opinions free from scathing attacks and unnecessary abuse. Tom F.