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

To: Paul Salber who wrote (18453)	4/6/1999 11:36:00 AM
From: Chuca Marsh	Respond to of 20681

Paul ...I tell you hang tuff with you high Px Shares. This is a shake out attempt IMHO, news out to distort before a runup. I saw this at others. It isn't earthscience, it's dirt with all the complexities of the process and onion peeling. Await the plant, IMHO. Sell or Buy based on what you think. Not me, but verge of...I JUST think so, believe me these dirts can run on a shoestring. <VVBG>! Chuca

To: Paul Salber who wrote (18453)	4/6/1999 11:41:00 AM
From: Larry Macklin	Read Replies (1) \| Respond to of 20681

paul, what stock options are you referring to? Larry

To: Paul Salber who wrote (18453)	4/6/1999 12:13:00 PM
From: Tom Frederick	Respond to of 20681

Paul, The Jan. 22 release stated that they planned on test runs in February and normal operations in March which means the start of fine tuning and optimizing output. That was IN March, not March 1st. On March 18, they announced final assembly and commencement of operations, which is certainly in March as promised. From that point, in the same release they stated it would take about 60 days from the previous week to have the plant running at optimum efficiency. So far as I can tell, they are doing what they said they would do and we are only about 4 weeks into that process. If they have a good solid 45 days of running time prior to the planned AGM, we just MIGHT see some numbers after all. Even with only an 8 hour day on average and 5 days a week, that would give them around 240 tons of processed material to report on as well as progress with refining and improving the output. As far as options, etc. go, boy they are really lining their pockets with shares at this price! What a killing they are making! This subject is getting VERY old. Number one, the release 99-2 outlines exactly how many options were granted and to which groups. This was approved on Feb. 10, the day before. They don't even have to tell us. But not only did they tell us, they put it in a release the next day. But more importantly, unless they are successful, all the options in the world don't mean spit. So they have the best incentive program for optimum efficiency I know of. Spend the last dollars in the Naxos account wisely and prove recoverable metal and be richly rewarded. Fail, and your options are worthless. Do you have a better plan to keep these people interested? Keep in mind most of them already have full time jobs and all of them already owned Naxos stock BEFORE they joined the board to the tune of 1.2 million shares as a group. Only 170,000 options were granted to the group giving them, as a group, only a 14% benefit in stock holdings IF they buy the options. So they are in the same boat all of us are...less two aspects. They have full liability as board members of Naxos and are fully accountable for the sale of any stock or options. I think I prefer this side of the fence. So, they are on track with progress, and they have a low cost method of keeping good quality people till the bitter end of this story who also have the same interest in mind that we do and by all evidence in releases are NOT prone to hype and exageration. Just the facts in realistic, straightforward language. As to additional test numbers, like I said, the board approved the pilot plant. I think that should tell us all something. Tom F.