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

To: mark silvers who wrote (16488)	10/2/1998 1:12:00 PM
From: BGM	Respond to of 20681

Mark: I do not know why Sid could not wait a few weeks. If the numbers are promising we avoid cheating ourselves. If the numbers are not there yet I think these people will take the deal at this price (a fire sale) because they think it can be worked out. This whole thing smells. Brad Mertz

To: mark silvers who wrote (16488)	10/2/1998 1:36:00 PM
From: Paul Salber	Read Replies (3) \| Respond to of 20681

Mark, As you and I well know, we have each drawn our own conclusions. My conclusion is based a great deal on why I would believe that someone who owns only 4000 share of Naxos stock would really be acting in the best interests of all shareholders. I own far more than does Sid and I expect you, too, own more. If I wanted to maximize the value of the company (ie. shareholder value), I'd explore all avenues, including waiting for results of the new J/L tests. The approach Sid has taken dilutes the hell out of FL and potentially relinquishes majority ownership to another entity. As I said, our conclusions regarding FL are very different, but I believe that if you were the president and in a position to have released this new plan, you would have waited for the J/L results before placing a price on the property.... Sid didn't.... why ? Paul