Mr. Marsh, Not to be too redundant, but my personal belief is that if an investor where to look at Naxos TODAY, as a new interest this is what they might see.
The following could be the new investors viewpoint.
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There is a company with leases on a property in the California desert which has been shown in the past, by US Geologic survey, to contain significant amounts of Lithium. One of the worlds top Lithium producers seems to have some interest in the property and new tests from third parties confirm the existence of Lithium in the clays below the surface and in the surface material as well. The same property has also been tested for Boron with third party verification that again, Boron seems to exist if fairly high concentration in surface material in some areas of the property.
The key will be if the same materials exist in the brine water at about 300 feet below the surface, but if they do, this is the preferred method of extraction for the Lithium producer. Permits for drilling and a limited drill program must be completed before any offer for the Lithium reserves would be discussed.
The ore seems to POTENTIALLY contain precious metals, based on some statements by the company, but that has yet to be confirmed.
Trading at around $0.17 per share, it would seem to be a reasonable investment risk if the Lithium deposit were to result in a contract with the Lithium producer. We have yet to prove total estimated Lithium reserves and the resulting estimated value per share.
The existence of at least two potentially mineable resources, Boron and Lithium, broadens the opportunity for success, but both need to be quantified in terms of total deposit size and estimated profit in actual recovery. Precious metals seem more of a long shot, but remain as an opportunity to explore. Given contracts for the other core resources (Boron, Lithium) cash flow could be established to support an ongoing effort to explore this opportunity as well as other resources without diminishing shareholder value to any great degree.
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Now, granted, it is a monumental task to drop all the history of Naxos especially if you are averaged at $3, $4 and $5 per share, and have this view of Naxos today. But, to be able to look at Naxos today and consider the current situation, it is my opinion that the above review would be reasonable to a person investing their first dollars into Naxos in August of 1999.
Any thoughts? (As if I need to ask on this thread)
Tom F. |
