Mr. 2, if I may pinch hit here, (to keep the baseball theme alive) I believe that if you stand back a bit and go to when any person on this thread FIRST came to invest in Naxos, the way Naxos was positioned was very likely something along the lines of "this could be the richest PM deposit EVER and when it hits, which could be ANY DAY now, it is going to be HUGE!!!!" So, with this in mind, there are more than a few people who don't want to be on the back side of the curve when this stock hits and hits BIG. Therefor, when good results came out in the past, the buying surge came with it. However, investors would have been hard pressed to explain why Naxos was worth I mean REALLY WORTH $10.50 a share when at the time, there was limited COC material (poorly drilled at that), and no SFA testing producing repeatable results. So what drove that price? Maybe just lot's of hope that we were "on the way, finally".
I made the analogy before of the parents of the child they just know is brilliant or gifted or whatever because they spend every day with their child. They listen to every word, watch every nuance, every move and they see brilliance in all of it. And they are very likely correct. The problem arises when they parade this poor child out in front of guests and the parents desperately want EVERYONE to see that same brilliance immediately. But that's not how life works. And it certainly is not how the market works. The market needs imperical data. They need enough to chew on to decide if Naxos really is the Cinderella story.
Many of US believe it because we have lived and breathed this thing for X years, and have made our own decision based on the imperical evidence we have seen and the most recent progress. But for NEW money, what we have is a 1.5 hole leap of faith in the world of proof of deposits.
What we also have based on the deposit size estimate and the last SFA results is HUGE potential on gold alone not the mention the PGM's with lots of work left to do. The work is finally on track and very promising, but we have work to do none the less.
I don't know if Mark will agree with this, but that is how I personally see how many of us got a bit ahead of ourselves. We are more like the proud parents than the "show me" guests. We are likely correct, but we can't expect the market to see what we see with so little (albeit very promising) information.
Tom F.
P.S. Sorry Mark, just felt like jumping in on that one. |
