Mr. Knight, I am not sure how long you have been following the Naxos story but you might want to check back and follow the activities and timing of activities between the exchange, David Bahnes, and the exchange commission. It gets somewhat more than a "wee bit" coincidental that every time Naxos was showing up with very promising numbers, another negative article would appear.
The ASE understood quite clearly that standard lead fire assays would not work for producing numbers using the old methods of the time that Naxos was trying out. The ASE INSISTED that they MUST use standard lead fire assay. They KNEW the results would show little or no gold because Naxos TOLD them that is what would happen. Is this being fair and even handed? Naxos offered to allow for witnesses to see the procedures. No dice. The ASE asked for what they knew would produce
poor results and therefor kill further actions and hamper the ability to raise money to continue research on the property.
The ASE had over 40 charges against Naxos and all but one were dropped. Do you suppose that the ASE was that incompetant, that ill informed or possibly, just possibly there was a quite deliberate attempt to trip up Naxos as much as possible and hope that Naxos couldn't get its' act together in time to save itself.
The largest source of income for the ASE is trading activities of a broad range of mining companies. Everything from start up junior operations to larger ones. If one company could put 90% of your "customers" out of business due to competitive pricing issues, would you be interested at all in the outcome? I suppose you would. The ASE already has a history of driving other companies out so this is really not a stretch at all.
The fact is that it is now a moot point. You are correct that we have to put it behind us, I mentioned the news items since it pointed to the relative importance of mining exports not only to the ASE but also the Canada as a whole.
Regarding the extraction costs, the article did not specify, but still on a relative scale, I firmly believe that Naxos will continue to improve on the results we have already heard about and seen in the Ledoux reports. Ledoux reported "significant" Platinum and Palladium from the last reports and I take that as and indication that it is again in the range of the gold numbers. If they were more along the lines of typical "commerical" grades (.05 - .1) then why hestitate to release the numbers? The only reason to hesitate is the reason we saw for the hesitation over the last few months by Ledoux. The non certified numbers showed 3 OPT!!! If I were Ledoux, I would want to take another round of tests too. If the Pt and Pl were low, it would have been a no brainer to release those with the non certified gold.
But they didn't. I have drawn my own conclusions and you can too.
Once certification comes, especially from multiple sources, we are on the fast track to success. The next step is recovery numbers this Spring. Then no one can stop the eventual outcome.
We just need patience at this point.
Regards.
Tom F. |
