Mr. Salber, regarding your comment on the stock price being much higher "after more numbers come out and the true value of the playa is known" I think it is important to keep a realistic view as to what will show "true value". With us who have been following this stock for some time now, we believe that the playa is a sedimentary formation and therefore, results from holes quite far apart (the BD holes are about a mile apart) will support the theory that it is a sedimentary deposit if those results are somewhat similar. However, in mining circles, they could very well still want to wait for the standard drilling concentrations to move us from inferred to probable to proven and that means lots of drilling.
Don't get me wrong, I want this to move as much as anyone. But after three years of following this stock and learning more than I wish I ever knew (which is still not all that much) about PM exploration, I have come to the conclusion that general market acceptance will come with general market methods of proof.
This does NOT preclude the possibility of potential investors coming in early in the process to get a bigger piece of the pie while it is still affordable. But even they will need enough proof to make a very big, still somewhat risky, investment decision.
The drilling program that is about to begin will tell a much better story about the playa and its contents. This is a HUGE deposit, if the numbers keep coming in like the previous testing. But the reason Naxos believes it is huge and the reason we believe it, is because we believe in the sedimentary deposit model. We need the market to believe that model as well and that will come with more drilling and testing.
But once the sedimentary deposit model begins to take shape, this will be the "better mousetrap" for the world of mining. Easier access, less costly access, higher concentrations, multiple metals, etc. all mean the world WILL beat a path to the Naxos door.
Regards,
Tom F. |
