Jason,
I really think that the next big turning point will be soon. It seems to me inconceivable that good results from three separate labs could continue to be ignored by the market. It is my view that these results will continue to be excellent for gold. Remember, Johnson/Lett has a perfect track record to date, at least in the released information we have had available. First, they knocked everyone's socks off inside the company last summer when the price climbed to our present level without any COC results but only astonishing in-house recovery results . Then we had terrific results released by Ledoux on three occasions mostly COC and latterly drilled by BDB. If you want to consider the most recent third stage J/L result from Ledoux a failure, let me remind you that there are plenty of companies which would love to have such failures.
What makes me think that we will not have to wait for the demonstration plant to get our next "leg up" is that we still have no platinum results since the original Ledoux work with the J/L method. It seems to me that there can only be one reason for withholding platinum and platinum group elements results.....that is because they are astonishingly good! So good, in fact, that they need to be corroborated by other labs. There can be no question that poor results would have very quickly seen publication along with the recent great gold results.
Why not release great platinum results if you are releasing great gold results? Because significant gold mines are a dime a dozen, and North America has had its share of great gold mines. But platinum mines are another matter entirely. The only North American mine of any consequence, Stillwater, would look quite pedestrian next to the sort of platinum producer FL could be if last summer's platinum results were to be proved up. It is a shop-worn phrase, but paradigm shift best describes the impact of staggering COC platinum numbers on the mining community. There can be no release of these numbers until all possible doubt is removed, and the multi-lab assays will remove this doubt.
I am certain that Ledoux has had platinum numbers for months, perhaps not consistent numbers, but certainly not low numbers. I will stick my neck out and guess that their release next week will be the watershed for this stock. It has to be next week. Why? Because I only have until next Friday to share the thrill. I'm off to New Zealand for a month, mostly at some distance from the cyber stations, and it's going to break my heart to miss all the fun when these numbers are released.
If I don't get another chance to post before leaving, let me wish all of you the very best and that you never again have to watch Naxos wallow in the 5 to 6 dollar range again. (Yeah, I know, bite my tongue!)
Lawrence
PS Henry, Sure, I will be happy to look up that erstwhile intern bond trader ewe you used to meet under the yew. Let me get this straight. She never heard of you. You never met. You don't know how she got to be part owner of that NY restaurant and wears an XXL Wolverine football sweater. Just one problem. With all the ewes in NZ, how will I know her. Pehaps you could email me about any "distinguishing features''....baaa baaa bye. |
