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

To: KRosenfeld who wrote (19265)	6/2/1999 3:34:00 PM
From: jlallen	Respond to of 20681

Ken: I don't think you need to apologize at all. Your position seems quite reasonable to me. JLA (Mr. Negative)

To: KRosenfeld who wrote (19265)	6/2/1999 3:39:00 PM
From: Tom Frederick	Read Replies (1) \| Respond to of 20681

Ken, You make very valid points on a variety of issues. The name game you played with my comments does point out a consistent challenge to Naxos from the start - this is a technical play. Whoever gets started on it will go through the same challenge, which is playing with the process to find out how to maximize results. The question your comments do not answer is why would the people still in Naxos stay after almost 9 years now, if over that whole time, they, who know much more than you or I, saw no credible evidence showing precious metals? What JJ was convicted of was misleading statements which implies blowing things out of proportion intentionally to drive the stock price. We did not have a conviction of the company for false statements. There is a difference that is critical and provides us a reason to have some faith in those who remain to keep the dream alive. You also point out a very clear example of counting chickens. I was likely one of the worst offenders with calculations on tonnage, how deep, how fast, etc. I regret having been overzealous with those contributions to this thread. Anticipated wealth is much more intoxicating to the poor than wealth is to the rich. Everyone must make up their own mind as to solid reasons to continue to hold Naxos stock. For some its simply an issue of economics. To get the loss for 1999, you have till the end of December so there is no rush to take the loss. For others, its a genuine expectation that there will, at some point, be a breakthrough and we will be on our way. For others, it is simply being too confused and too unsure if they would a) sell to get the only money they will ever get out of this stock or b) miss the price rise of a lifetime if it hits. For myself, I still hold the hope that they will crack the code. I have spoken to Bob Gardner over the years when he was simply a Naxos staff member doing his thing at FL. He has always come across as a very straight shooter and also knowledgeable about mining. I don't think he would have committed to building the pilot plant, spending our dwindling funds, without very good reason. Bob has stopped the leaks, stopped the rumors, stopped the hints and many are convinced that if there are no leaks, it must be bad news. I don't look at it that way. Bob knows they need to have the silence to let them work without constant calls, constant second guesses, and constant rumors spread in an instant across the country on this thread. He is doing it the way it was supposed to have been done years ago. Now it's time to wait and see. I have lost alot. Not as much as others and more than some. My family and friends have also lost alot. But most bought their ticket to ride this to the end of the line. It was always a high risk investment, and the upside is still as high as it was the day we bought in, while the downside is, well, it's here. We can't lose much more. Tom F.