Mark, I would say that it might be fair to be critical of management over the last 5 years with so many changes in testing direction. It became hard to keep track of whether Naxos was still trying to get 3 opt or .3 opt based on the latest method. However, I don't think that applies as of the last year or so.
The company has been very up front that the JL method is still in consideration but SFA will the THE method or choice for proving out the property and Gold alone will be the current focus. That much is clear. But I don't think it helps us to know about every consideration, every option because until they research and review options and play them out on paper, they can't be sure which one is best for the good of the shareholders and themselves. Even with test results, with unusually high or low results, if it is still experimental, what is the value in releasing it? In other words, to share every consideration of a new direction or experimental test can create mass confusion, where as putting out releases on commitments to new direction and repeatable testing are meaningful and help derive where the company is headed. And I think as of late, they have done that.
Is it a perfect system? No, but there are plenty of gold companies to choose from. If people don't like Naxos, sell. There are lots of other people who will love to have their money.
What are your thoughts?
Tom F. |
