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

To: sh who wrote (17248)	12/14/1998 10:50:00 PM
From: BGM	Respond to of 20681

SH: I am not familiar with any specifics on Father Gregory and his actions at this time. I am in favor of changes / pressures that will make this company (our company) respond to so many open issues. The following may be true: 1. JL doesn't work 2. Ledoux messed up and stands by no numbers 3. The pilot plant was never purchased or was sold 4. South America was a bust and the money is gone 5. The Alberta will never go away I do not know the results, but I am strongly against the flagrant lack of reporting. Brad Mertz

To: sh who wrote (17248)	12/14/1998 11:55:00 PM
From: Larry Macklin	Read Replies (2) \| Respond to of 20681

SH, Mister Gregory might have a firm belief in the richness of FL but that doesn't make his views on whats best for naxos correct. I still believe spinning off 1/3 of naxos to pursue proven properties was a good idea. I have checked with many experts, several of whom have worked on the JL process....they all say that J/L is absolutely nothing and the lab they were using is horseshi! Larry

To: sh who wrote (17248)	12/15/1998 7:43:00 AM
From: mark silvers	Read Replies (1) \| Respond to of 20681

SH, With all due respect, the following is WRONG! <<I won't comment on your "lunacy" ad hominem attack. As to the substance, what makes you think that Fr. Gregory wants to change current management so that we have a management willing to succumb to whatever J/L wants >> That is exactly what he wants! How do I know? He has been calling people and advocating just that. Some of the people he has called are friends of mine. He has been advocating getting rid of all labs and processes except J/L, and that would constitute LUNACY! Mark

To: sh who wrote (17248)	12/15/1998 10:04:00 AM
From: Henry Volquardsen	Read Replies (2) \| Respond to of 20681

Just to stick my two cents in. You refer to the plan to sell a one third interest in Franklin Lake as surrendering 1/3 of Naxos. We did not have enough details to accurately describe what the plane entailed but as I recall the funds were going to be used exclusively to research Franklin Lake. Both conventional and Franklin Lake were going to be independently funded. I have to say that I found the idea very interesting as it allowed Naxos to diversify its risks and made each approach bear the costs of its own funding. You may decry the dilution that would occur to our interest in Franklin Lake but that is the simple reality of funding this research and is going to happen regardless of wether we went with that plan or some future plan. But personally I would rather sell one third of Naxos and get some cash for the research than hand over one third of the company to J/L for its services. The dilution would be the same. I do not know Fr. Gregory and have no idea what he is or is not advocating. But if he is advocating a greater role for J/L in Naxos at this stage I would strongly disagree. J/L's actions over the last year plus, both their lack of verifiable results and the questionable business dealings, have given us more than enough reason to be very careful in our dealings with them. I would also like to comment on your statement that People like Fr. Gregory have a firm belief in the richness of Naxos. What nonsense. On what do these people base this firm belief? Are they trained geologists? Belief is not enough. Franklin Lake is just a patch of dirt that may or may not contain precious metals. This will be proven by the appropriate testing and belief has nothing to do with it. I fear that people who have a firm belief in the richness of Naxos have this belief because they bought into a fairy tale peddled by people who have a different economic agenda than the shareholders of Naxos. The only way we, as common shareholders in Naxos, are going to prosper is if we stop believing in fairy tales and make our decisions based purely on verifiable science. I adamantly oppose handing over a significant chunk of this company to J/L simply because their siren song is soothing to the ears of people who have a firm belief in the richness of Naxos.