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

To: Rick Nazaruk who wrote (16905)	11/7/1998 8:44:00 AM
From: Tim Hall	Read Replies (2) \| Respond to of 20681

Rick, You have new management in place. The question is, does Naxos have any gold or pgm's in place? VBG Tim

To: Rick Nazaruk who wrote (16905)	11/7/1998 10:04:00 AM
From: Kurt R.	Respond to of 20681

Rick: I tend to agree with your assessment. The last to releases were not bad news at all. Nobody in his right mind really expected a glowing recommendation of the J/L process by Brian Russell. The stock price clearly indicates that. To me, the recent turn of events means good news because: 1.) Naxos got rid of an extremely unpopular President and also freed herself of nonessential management fluff and of directors who really have nothing of substance to contribute (other than being share holders in some instances). 2.) A questionable recovery method is off the table. To me, the J/L method was questionable all along because it is a batch type operation (too slow, too expensive etc.) With the J/L method being of the table, so is the J/L deal which earmarked a transfer of 10 million shares to Messrs. Johnson and Lett, while awarding the voting rights of these shares to JJ. Some of you may remember I was very critical of this deal all along. Will Naxos be able to identify a different and yet more appropriate recovery method? With Bob Gardener in charge, they might pull it off. Time will tell. Kurt