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

To: Bear Down who wrote (17238)	12/14/1998 10:40:00 AM
From: Richard Mazzarella	Read Replies (1) \| Respond to of 20681

Bear, MGAU is now running on its own. They purged their tie-in with IPM held shares and management. I still believe in the potential at IPM's BRX property which may be recovered for shareholders in the IPM/Maxam merger. The problem at IPM wasn't the metals IMO, just technology and crapo management that wanted to work difficult mineralization like hard rock. IMO since J/L is paying for the MGAU demonstration, the MGAU_J/L agreement represents either superior MGAU management or J/L's difficulty finding clients, maybe both. As an MGAU shareholder I'm not happy with this arrangement, but if it's free to us who cares. The only risk for MGAU shareholders IMO is the possibility that J/L won't show good metal recovery at the crater. Since J/L can get gold from everything from wooded teeth to chicken shit, I doubt that will occur. Demonstration of recovery from difficult mineralization is a lot like the A-bomb, once someone shows it can be done, everyone will be able to do it in their garage in very short order.