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

To: Jim who wrote (16732)	10/20/1998 2:23:00 PM
From: mark silvers	Read Replies (3) \| Respond to of 20681

Jim, I agree completely, and I dont think Tom would argue that point. However, the J/L advocates wouldnt support Sid, and now are eggs are all in one basket. The humorous thing to me is this. A few months ago, all the J/L supporters whined like crazy that Sid wouldnt pursue both avenues. He was definitely trying to do that. It turns out that the real agenda was their inability to look at any other process, not Sids. 20/20 hindsight reveals the truth, as always. Now, if they dont find a black box process that works in short order, Naxos goes down the tubes. all our eggs are resting in a very precarious nest. A nest that is to this point, very unproven. If J/L doesnt work, you know who to blame. Mark

To: Jim who wrote (16732)	10/20/1998 2:39:00 PM
From: Tom Frederick	Respond to of 20681

Jim, it goes without saying that financial backing by CPM opens up many doors and opportunities. But the non conventional testing was started with only shareholder support. Only the SFA direction got CPM interested and the "small mines" concept was the driving force to keep them interested. If non-conventional is going to be the wind beneath the Pheonix' wings, for the next few months, we will be on our own. When the evidence is conclusive, money will be the least of our worries. You are correct that we have a big IF left to play out, but as I have said before, based on the last release, the one thing we know for sure is that SFA was one very big and expensive mistake. We have had a variety of non-conventional assays that have shown PM's over and over again, but non with repeatable, reliable results. We are back to the old course and if J/L can show a breakthrough on the reliability angle, our pheonix might just be riding some quick thermals with Naxos. But that is a VERY big if at this point. The simple fact that we haven't seen a mass selling exodus from Naxos only means, to me anyway, that many are still waiting for either renewed hope or the final plunge of the pheonix. Let's hope there are some strong thermals starting to rise for our Pheonix, started by a hot new and improved assay procedure perfected by J/L. Tom F.