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

To: soxan who wrote (18826)	4/28/1999 3:59:00 PM
From: BGM	Read Replies (1) \| Respond to of 20681

My take is that there are not "good" results from the pilot plant yet. It will take more money to work on this solution. Without good results we could not get more money or Bob Gardner is not qualified (experienced)to do this. He probably had the votes to retain control, but the patient would have died (Naxos). Seats were just "shared" to get more money into the company and eliminate some of the conflict. We will see how it works out, but it is hard to see how it can last in this form for long. This is a blueprint for a deadlock. The only good news is the price being up. We will also see how long that lasts. Most of us will probably stay long at these levels. Good luck. Our pain is certainly not over. Brad Mertz

To: soxan who wrote (18826)	4/28/1999 6:18:00 PM
From: Henry Volquardsen	Respond to of 20681

perhaps the Father does have some positive things to bring forward oh really? then what was that letter we recieved from management all about. You know the one, the one where they point out how many of the good Father's board were close long time associates of Jimmy John. You know Jimmy John don't you? He's the guy that management pointed out who just got an unfavorable ruling in Alberta. He's the guy the company is in litigation with. It was his associates that management suggested we should not invite back into the company. What was that letter all about? Was it a bargaining ploy? Was it about a bargaining chip for management as they cut a deal with the good Father? I am totally disgusted with this. Far from cooling off I am getting angrier the more I think about it. And what happens to the 'dissidents' request to have their costs covered? And where will Naxos get money? Well I'll tell you my little droogies if I were a betting man I would bet that our new board members will magnaminously drop their requests to have their expenses covered. But I would highly recommend that we check closely on the pricing of the private placement I suspect will be coming very soon.