Mr. Haber, you make several very important and salient points. What will be an interesting reaction to watch is what current shareholders will make of new test results should they be forthcoming. I would assume that the J/L working agreement must be based on some test results otherwise why come to an agreement?
In my opinion, IF, and that is the big IF, there can be new certified, verifiable test results with J/L testing from any respected lab OTHER than Ledoux, and the numbers are good, it will be a clear indication that there is indeed precious metal in the FL ore. And additionally, the Ledoux debacle will be an indictment, not of FL, but of SFA as a viable testing procedure (at least for now) as well as Ledoux's ability to date in refining the SFA testing procedure.
And with that in mind, the building of a conservative base of proven reserve properties of more standard metals, (copper for example) will provide the ongoing cash flow to create real value for Naxos while also supporting the new phase of proving non conventional testing to indeed be repeatable, reliable and the results economically viable.
This is not a blind endorsement, this is a cautious optimism based on the big "IF" which rests on the to-be-proven value of the J/L method and the ongoing efforts to build a more conservative base of proven properties.
Thanks for your thoughts and insights.
Tom F.
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