Henry--
First off, how do you do those very cool italics? :-)
The point that you make about the technology being new is a very good one, but I dont think it fully addresses the issue. Yes, the fact that this is new technology makes valuation a much more difficult process.
However, in any mining project, there are many variables and literally very few mines are alike. All have their unique characteristeics, ranging from the difficulty of the terrain to the uniqueness of the ore. What we are talking about here is a matter fo degrees(albeit very large degrees) No mine is a cookie cutter operation and as such guesstimation of costs can be a difficult task. It is obviously even harder with completely new technology. Given that, does that mean Naxos should recieve ZERO valuation for its resources? I don't believe that's the case, but on the other hand I dont know what valuation they should recieve. That goes directly to my original point in that we dont know what to expect from the standpoint of what will vreate a critical mass of validity. The point that you make, which is this is too new to make extrapolation underlines that very point.
As far as people making informed or uninformed investing decisions, I bleieve this. those that buy because they heard a tip dont count, becasue they are going to buy anyway. The issue is what will cause the critical mass of validity that will allow others to buy with glee and abandon:-) It is those people who are going to do the research, the "non-tipsters" if you will. I think people who buy extremely speculative stocks are a somewhat different breed. I think that different rules apply. I think that these people are going to do a little more research as they are the type that are bucking the trend or going against the grain of popular thought so to speak. As independent thinkers thay are less likely to want to do whatever Henry, or mark, tom, or Jerard want to do, but will blaze their own trail and that entails doing a little research. At least enough to find out about COC certification which was my origianl point.
Mark |
