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

To: Tim Hall who wrote (19149)	5/13/1999 4:23:00 PM
From: mark silvers	Read Replies (1) \| Respond to of 20681

Tim, I have no idea what MG is using, or how much they or naxos paid for them. If it is attriters, short MG. Johnson's idea of a plant was to line up a huge amount of attriters to process ore. I wish I had known that at the time. The consultant brought in by J/L, Bryon Russell, concluded that attriting had no beneficial effects on the process. In fact I believe that they concluded the process itself had no beneficial effects..... Mark

To: Tim Hall who wrote (19149)	5/13/1999 5:19:00 PM
From: Henry Volquardsen	Respond to of 20681

Tim, I believe part of Naxos' settlement of it's contract with J/L was to sell them some of the equipment. I do not know what specific equipment or prices. Given the level of professionalism of all incarnations of Naxos management it is quite feasible that we over paid when buying and got pennies on the dollar when selling. Given J/L's relationship with MGAU it is neither surprising nor inappropriate that the equipment is in use at MGAU. Henry