Mark, some very good points. I would only like to add the following to your scenerios.
There are many fund managers, institutions and private investors who are at this minute holding shares in a multitude of small and medium mining stocks in all the major precious metals. To those who are paying attention to the whole DD phenomenon are right now thinking very hard about what to do. They could be holding almost worthless stock in a relatively short period of time or they could start to hedge by picking up shares in a company that could likely be sitting on the largest PM deposit to date with certified, chain of custody assay that puts the deposit at a potential of the following:
120 million ounces of gold
160 million ounces of platinum
160 million ounces of palladium
AND there are non chain of custody but CERTIFIED numbers that might put the deposit at the following:
1.5 billion ounces of gold
2.5 billion ounces of platinum
2.7 billion ounces of palladium
and final gold equivalant of 6.2 billion in gold
How long would it take those holding other mining stocks to begin to believe it might not be a bad idea to pick up some of this Naxos stuff? About a millisecond for any thinking person.
Regarding the other post making some analogy that some might wait because of the Bre-X factor. Now THAT'S a good comparison.
Bre-X vs. Naxos
Location of BreX - Jungles of Busang, Indonesia
Location of Naxos - Death Valley Junction, USA
Accessibility to Bre-X Marginal by canoe
Accessibility to Naxos - Paved road, in your Chevy
Indonesia Government - Volatile
Naxos Local Government - Contraversial but predictable
Level of Verification for Bre-X - NONE
Verification of Naxos - Ledoux Labs, Behr Dolbear, writers,
fund managers, metalurgists, analyst types, anyone who wants to see it
Reported, none independent, Potential of Bre-X - 70 million ounces
Reported potential of Naxos supported by geological findings, and now chain of custody ore - 300 million ounces of 3 PM's
None chain of custody certified numbers over 6 billion gold equivelant
Bre-X Management - skydives without parachutes from helicopters
and pays off local villagers to salt samples
Naxos Management - spends 7 years proving they have the goods
Yeah, I can see the parallels clearly there.
We have a winner folks, lets just give them the time to prove recovery and we can breath much easier. And you can choose where to breath easier such at your Vail house, your St. Martin house, your Vienna flat or your Bitter End BVI, beach house. I think I just tipped my hand as to how I feel about Naxos. Oh No!!!!!
Regards,
Tom F.
P.S. Yes I do have a life, I'm just up early with the kids! |
