Contracting Novo, a significant shareholder of NFG, to expedite the Chrysos PhotonAssay reassessment of the cores?? And shipping them all the way to Australia? Bad optics no?
No. Not bad optics... Good to see them taking action and being pro-active. The path taken is a practical enough expedient given the circumstances that usefully benefits shareholders of both companies as it usefully takes advantage of a relationship they're fortunate to have...
using a new analysis tool not fully endorsed by the industry isn't going to get it done... also fully in error, IMO. The industry's sustained endorsement of using stone knives and bear skins as their preferred tool and resulting product... doesn't actually make them the superior option. And, that's obviously not the sort of objection that's going to be sustained... as what are obvious technological improvements upend the legacy methods... leaving the only real issue in the ponderous nature of the institutional drift sustained in the "rules" keeping up with the changing reality. The new tools are VASTLY BETTER science...
And, for me, at least... the question isn't "does it work'' but "why has it taken them [the industry] this long to adopt the obvious solution" ? I had a similar analytical problem in my own lab some years back... if with "sorting" things out at a much smaller scale. I pointed out to the lab manager that I saw no obvious reason we couldn't use the same x-ray source already being used in the SEM as a parallel source for an XRF detector... and a week later we had the world's first functionally integrated SEM/XRF... allowing us to look at material in the electron microscope... with a display showing us elemental composition down to the atomic level. Neither the "science" nor the "tech" are the source of obstacles to "better" ?
In this phase slow deliberate actions designed to regain trust and confidence, not a hurried and rushed round of testing partnered with a significant shareholder
In this case, I think the opposite is clearly true... regaining trust and confidence isn't going to be accomplished by opting for "twisting slowly in the wind" while gazing at navels and being held hostage to the legacy way of doing things... when that is the source of the errors... and when that is left as the only other path that's open... while NOT shifting focus AWAY from dependence on the source in origin of the errors encountered ? Makes vastly more sense to obviate the errors as rapidly as possible... rather than submitting to being controlled by them even more ?
So, first, consider the specific point taken from today's news: New Found Initiates Use of Chrysos PhotonAssay™ Method for Queensway Drilling, Anticipates Reporting First Assay Results Shortly
Which is:
The utilization of the Intertek facilities in Perth will allow the Company to immediately proceed with utilizing the Chrysos PhotonAssay™ for the assay of drill core currently being produced at Queensway".
Among the benefits of using the "new" tech... it delivers much faster turnaround times. The Chronos site, or their Twitter feed... notes that Novo's use of the Intertek facilities currently has them gaining the benefit of a 7 to 9 day turnaround time...
I don't see any other path that's so obviously capable of solving the problem... and fully open to enabling NFGC to accelerate past the self induced errors...
I'll still agree that the "self induced" element in the errors encountered is a product of "moving too fast" that could largely have been avoided with a bit more deliberate approach to solving the problems before they were realized as errors...
I've noted the same issue in my 2 year old granddaughter this week... a whole lot of energy... but quite often it being not well paired with a whole lot of directional control. If "all air speed and no direction" is the problem... the two obvious solutions are... "slow down"... and "figure out where you are, first, to make better choices more purposefully, that will help move you positively in the right direction"... as that's always better than the alternative in "don't know where we are, don't know where we're going... but we're making good time" ?
NFGC is at least adopting the second half of that obviousness in solutions as "figure it out, make better choices", it seems... leaving only properly parsing what else might be heading the wrong way that needs "slowing down"... in parallel with or as a part of speeding up in PURPOSEFULLY implementing better choices in solutions as part of optimally navigating to arrive where you need to be, when you need to be there ?
I was addressing that as an obvious need, already... talking about the need to generate more local capacity to help resolve $ vs. time issues driving costs and wasted time in the massive backlogs being experienced in the labs... which, in addition to being error prone as a purely mathematical function of the method, have been slowing things down in mining exploration, not just for NFGC or in NL.... but across the industry.
The approach being taken now in adopting industry leading tech while resolving the current problem and better meeting future unmet needs... and having it ready to go in Q1 of 2022 ? Seems there's now a plan that addresses the need I had noted well enough... even if the motivation for enabling that in happening now is more about "error correction" than it is the forward looking anticipatory approach I was hoping for in my prior posting...
And, otherwise, will agree with you still that there are questions still to be asked and answered...
But, as always, every soluble problem seems it comes paired with an opportunity tied to the solution:
Chrysos Corp raises A$50 million to fund PhotonAssay tech expansion drive
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