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

To: mark silvers who wrote (17284)	12/17/1998 12:24:00 PM
From: Tom Frederick	Read Replies (1) \| Respond to of 20681

Mark, along the lines of "proper" reporting, a case in point is Golden Eagle (which might be a very big scam) who did several thousand assays before the first report was out. Then they announced a "huge gold find" in a press release but NO results from the assays! They STILL don't have the assay reports out and that was months ago when they made the claim. Naxos has been much MORE forthright than most in announcing assays all along the way. Reporting on other aspects of the business is a whole other matter. I have heard the same thing though, that for juniors especially, all the work is done and completed before anyone announces anything. It's SOP but for those who want to know more, it is just plain old frustrating. This is the world of juniors. It's an old story but if that makes an investor nervous, they chose the wrong type of investment. I agree that Mr Gardner has taken us from J/L focus to a 25 lb bulk recovery test with VERY encouraging results and the pilot plant in the process of getting up and running to prove in volume what the 25 lb test proved. This is the most relevant progress that has been made in the last 2 years. And clearly there is almost no disagreement internally regarding next steps allowing for rapid progress. Personally I am very excited about progress. If they can show similar results in the 5 ton a day plant, then this will start moving ahead very quickly. We could have every single answer to every question every shareholder has and you know what? It doesn't mean spit to us today. It might have changed some of our investing decisions a year ago, two years ago. But what matters today, here and now is what we originally invested in Naxos for - The proof of a potentially very rich PM deposit. And all those answers to all those questions won't move us one inch closer to that proof. What DOES move us ahead is a pilot plant to prove or disprove the economic viability and volume viability of the results of the 25 lb bulk recovery test, our first EVER recovery test! Get the pilot plant up and running and lets see what comes out the end of that thing. If its gold and shiny, it will be a very happy New Year indeed! Tom F.

To: mark silvers who wrote (17284)	12/17/1998 5:48:00 PM
From: BGM	Read Replies (2) \| Respond to of 20681

Mark: Good management is the key to success in business. Explanation of major events that consumed great resources and energy of the company is required to evaluate the new "promising" events. Nothing about the current event has anything to do with not being able to report on where our money went and if decisions have been made. I do not understand your standards applied to performance by management. It should be obvious to shareholders reading this thread that management can report, but chooses not to. There are too many flimsy rationalizations for these practices in too many areas. "Eventually" has come and gone for events of this order and duration. Brad Mertz