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

To: Neal davidson who wrote (18404)	4/5/1999 12:48:00 PM
From: Alan Vennix	Read Replies (1) \| Respond to of 20681

<<Karl was posting, since last week, that news was forthcoming on MGAU. That means that he illegally was in possession of insider info. >> MGAU announced in early March that they expected to close on J/L by March 31. I think many expected a PR to that regard and it doesn't imply inside information. With no info from the company, I know that I expected an announcement, including results from the 1 ton test. Happenned that the results were in a separate PR for some reason, but, again, I think you are stretching it to imply inside info because a PR was expected. JMO. BTW, I don't consider MGAU a fraud, and I hope NAXOF isn't either. Alan

To: Neal davidson who wrote (18404)	4/5/1999 1:12:00 PM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 20681

Neal, I have a question for you as a lawyer. Karl posted on at least one occasion over the last two weeks that there would be big news last Friday. This morning he posts that he forgot Friday was a market holiday and implied the news would be today. Then we get the MGAU press release. Now despite the fact that I believe that pr is worthless without verification it is material information. Do you think someone related to MGAU might be slipping Karl material information before it is made public? Do you think the SEC would be interested in this inside info? Do you think Karl's position would be better or worse if his trading records show he purchased MGAU stock since he first got this info? And finally, do you ahve a phone number for the enforcement dept of the SEC? Henry