Bill, You need to do a lot of reading to get caught up here.
Again, the early stages were very likely this format. But eventually testing moved to big name labs with much more at stake with their reputations than Naxos. They agreed to do the testing (Ledoux, and Rocky Mountain to name two of them) Even the big names came up with PM's but not the same levels and this was on COC samples.
A long time ago someone had a great line to describe this project. Naxos is a scam gone terribly wrong...they really DO have gold. But as I have said, there has yet to be a method to reliably test it and there is NO method as of yet to recover it. There is gold in seawater. There just isn't a method to recover it economically. Naxos and a number of other DD properties believe there is gold in the sediment of these dried up lake beds which lie downriver of mountains which produced gold for many, many years. It's not far fetched that the gold which washed into the rivers for panning kept moving over millions of years into the lakes into which the rivers fed. The belief was that as the lakes dried up, the PM's didn't somehow disappear. They are still there in the sediment. This is not fairy tale stuff. It's reasonable and fairly logical. But that's still not the same as having a method to test and extract. Those metals may stay there for another million years do to lack of the science to get it out.
There were a number of scams revolving around the DD's and many fit your scenario perfectly. They never had testing on COC, never seemed to test with a lab anyone heard of, never had third parties check the results...right down the line.
I have no idea if Naxos will figure it out, or get the money they need to keep the leases, or get the money they need to get the pilot plant up and running to prove Father Gregory's claims. It's all or nothing, but for most people, all the cards are on the table and those who are left have their eyes wide open. There are no guarantees, no promises. It's the same long shot it always was. Anyone who is betting the farm on this should get out now. But those who are using funds that don't make or break them, it's the long shot investment category. Nothing more nothing less.
Tom F. |
