Henry, Between you and me, if I took a flyer TODAY on a highly speculative stock at .42 with a potential of $10.00, that makes...well a pretty good return. What you more likely mean is, if you have been buying over the last 8 years at $1.00, $2.00, $3.00, $6.00 or God forbid, $10.00, to buy MORE today just to average down is NOT a good buy. That is pretty good advice.
Only test results have made this any better odds than a roll of the dice. And we have years of test results all over the board all showing metal. The Ledoux fiasco tainted the opinions of all results and also burned quite a bit of money following that method of assay.
At this point, Naxos has chosen one course of action, which limits success opportunities. But we can only assume this specific direction was based on the best information available.
It is not a comfortable position for those who are averaged at $2.00, $3.00 and higher. etc. But there are few choices left but to accept the loss and sell, or accept the original motivation of a chance at a big hit on a large gold find and hold till this is over.
Nobody likes to lose money, but junior exploration mining companies are NEVER part of a blue chip portfolio of steady growth stocks. But they are ALWAYS on the list of "highly speculative with high potential growth" portfolios.
Here's to the world of speculative investments!
Tom F.
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