Mark, I apologize, but I only got snippets over the phone this morning. What I understood was that it gave a general review of the gold industry right now, referencing how a number of companies have fired many people, closed mines, etc.. The majors where mentioned such as Barrick, and the EU issue was brought into play in that if the Euro is going to be backed 30% by gold, there will be a big gold push coming up. I was not told about any of the exploration companies being mentioned but my logic tells me that when the gold market turns around, even the majors will be looking to maximize profits which means large, low cost sources will be key. If Naxos can be well on the way to proving up a first section of FL, and the market begins to turn, the majors will also be looking for sources that will be profitable even in low gold price markets and large enough to justify the capital expenditure to get it going, thereby, amortizing start up costs over many, many years.
The article was apparently a front page story in the business section. Sorry I don't have more detail.
Regards,
Tom F.
By the way, did you hear about the woman who was going through her husbands things and found an envelope with 3 soy beans and $120 in cash? She asked her husband about it and he said "honey, I have to tell you that I haven't always been faithful. And whenever I slipped, I put a soybean in the envelope." She said, 'Well I understand and thank you for being so honest. I just have one question, why the $120 in cash?'. Her husband turns to her and says shyly, " Well when soy beans hit $40 a bushel I decided it was a good time to sell". |
