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

To: Tom Frederick who wrote (16616)	10/9/1998 10:58:00 AM
From: Chuca Marsh	Read Replies (3) \| Respond to of 20681

Mr F and lots of you folks follow a very narrow path, IMHO, an exclusionary path that did the Naxoians in starting at the top the buck stopped EXPERIMENTING"; and I ask for you following to the Comments payed about the two types of Dirts that are being extracted with the Hewlett Process ( of California- I might add!) - Message 5967569 paruse around this: ,,<<One of the systems was customized for the Tecopa/Shoshone/Barstow California areas, while the other system was customized for..>> Chuca-for a lousy 100K - Naxos could of had it( durring this Market Downturn )Hense, not so downturned looking for the Majical Modified Fire Assay! We all live on a yellow submarine ...drilled deep into a Lake in California.

To: Tom Frederick who wrote (16616)	10/9/1998 12:01:00 PM
From: Neal davidson	Read Replies (2) \| Respond to of 20681

Larry and Tom: Both of you seem to have posted that Naxos was an all-or-nothing bet, and that the risk always existed that we could lose all of our money. I think that is not quite correct. When many of us first invested (May 1996 for me), your premise was correct. In fact, I posted, on several occasions, that I knew, coming in, that this stock would go to $100 or zero. However, when the multi ounce results from JL were not repeatable, and SFA became an option, the type of investment changed, with the upside potential being less than it once had been. Then Ledoux certified results from COC ore. At that point, buying Naxos stock was not, in my opinion, an all-or-nothing risk. Instead, while the upside price potential was less than it had been when we were hoping for 3 ounces per ton, the downside risk also was decreased. Anyone who bought based on Ledoux's certified results made an investment, in my opinion, and was reasonable in relying on the world class status of Ledoux. I bought more stock based on their results, and while I acknowledge that my original purchase, in 1996, was roughly equivalent to the purchase of a lottery ticket, I absolutely disagree with anyone who would contend that buying stock in 1998, after the release of Ledoux's results, was the same type of investment decision. Ledoux knew that Naxos was relying on them, and Ledoux knew, or reasonably should have known, that individual investors were relying on them.