Mark,
Iam a bit troubled by the news release. Firstly, did SRK drill the
holes under supervision by BD? I was under the impression that
the first five holes were to be drilled by BD and then later
BD would only supervise drilling. Secondly, why wasn't any
mention of fire assay made regarding the chain of custody
samples? I feel another "non standard fire assay" fiasco coming on.
Thirdly, the wording of the press release is completely ambiguous.
They talk about "the first stage of a three stage, patent pending, metallurgical methodology." So if the numbers are based upon
only the first stage, then what are the second and third stages for?
In addition, what is all of this mumbo-jumbo about non chain of custody testing?!!!! It really pisses me off that they would
go down that road again, particulary in light up the prior ups and downs over the past few years. It makes no sense to release that sort of info, since no one will believe it anyway until done on chain of custody samples.
Mark, If you don't see this as opening up the door for potential stock manipulation then i won't be able to convince you that the sun rises in the east and sets in the west. I can just see a huge runup in share price followed by a release of some negative news, and then collapse of shareprice, but some people will have sold at the top.
Sorry for being negative just there, but I view any non essential release of data as potentially opeining the door to manipulation.
I view a "nonessential release" as release of data that can be questioned by any person on reasonable intelligence. Releasing
data with one of three stages completed outside of chain of custody was a bad idea, particularly since the numbers were so much higher than the chain of custody samples. Are we to believe, yet again, that Ledoux is so inept as to "not get it right", or are we to believe what is more likely, that the data from the non chain of custody samples is overstated or flawed?!
I am getting the sense that Naxos really needs a lesson about PR and risk management.
Doug |
