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

To: BGM who wrote (16402)	9/30/1998 8:32:00 AM
From: jlallen	Respond to of 20681

Isn't that interesting. JLA

To: BGM who wrote (16402)	9/30/1998 8:40:00 AM
From: Henry Volquardsen	Respond to of 20681

Brad, All I ever reported was one conversation in which I was told Venezuela was at breakeven. This was early in the year. Later when the annual report came out there were a lot of questions about the way the number was reported. Someone else posted that the revenues had been rolled into expenses. Not me. I made no additional comment on the subject other than to report the initial conversation I had. Henry

To: BGM who wrote (16402)	9/30/1998 9:09:00 AM
From: Tom Frederick	Respond to of 20681

Brad, And so we wait. What is the final answer on Venezuela? Why did it fail? Has it failed? Is it a non entity because of ______ fill in the blank? Bottom line for now is the Mexico deal is being supported by CPM Group, it has proven reserves, the methods of recovery are known and it is easily accessible plus we have a govt much easier to deal with then the Venezuelian govt. We need to see this property move ahead to production. Why should we believe that this will turn out any better than Venezuela? Ask CPM group. They seem to think so. Tom F.