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I suspect we will get good certified numbers from Ledoux by January 6 and Naxos will exercise its option on J/L. I also suspect that the price of the stock will move up at that time, but not as much as I once thought. As with everthing else, once the "main event" we have all been waiting for actually happens, there are more questions that need to be answered, "two more weeks" goes into effect, it turns out to be six more months, and the main event of the past becomes nothing more than a preliminary bout. The present main event is the pilot plant. The lab results, once the main event, are now a mere sideshow. Now Naxos has to do it commercially in the field to attract the investors and the attention of the street. I am not saying that such an requirement is wrong, I am simply saying that it is frustrating. The positive side is that Naxos, so far, has delivered on each of the conditions precedent and we all hope that it stays that way. Until then, the serenity poem should be repeated each evening. |
