Grant, per your question on where the DD's are heading from here, that answer is still full of speculation. If you haven't been following recently, I'll try to provide a brief update. I've owned all five of them (6 if you include IPMCF:-() but have focused most recently on MGAU and MXAM so my comments will probably be prejudiced toward them.
CHIP - as I mentioned in the DDI update, LS Capital recently stated that they were effectively getting out of the mining business but retaining some of their landholdings. No specifics mentioned, but their chemist recently took a position at Naxos.
NAXOS - Has been embroiled in some shareholder disputes until just yesterday when the judge ruled that the dissident group could not call a special meeting and ordered them to pay the companies costs in seeking the injunction against the group. Also, the ACS found all parties except former presicent Jimmy John innocent of any wrongdoing. The company is reportedly trying to recoup it's legal costs from the Commission. New management took over in December (actually the new Pres has been with Naxos for some time) and they are focusing on Franklin Lake, with a pilot plant supposedly up and operational about now. Some of the posters question the current risk/reward situation but others are still buying. Could be a good run from here if they get soem pilot results.
GPGI - Also some new "management" running the show, with focus broadened from the Hassayampa screened ore pile to also include their Oro Grande property. Some potentially favorable results reported but a lot of controversy still surrounds the company and its management.
MGAU - Earlier this year the company acquired the processing knowhow for refractory ores developed by Dr. Johnson (of Johnson and Lett) and tested it on their Sinagua Cinder Cone property with good results reported. This was an internal company test, not third party COC, so there is some question in the minds of some investors. MGAU has constructed a pilot plant which should be operational now to test the process. They are also producing marble from a quarry near the old Harqualla mine, where they have also seen evidence of mineralization and reported recovery of gold.
MXAM - Expecting COC assay results from 10 holes drilled on their Peoria property, which will, hopefully, show sufficient results to allow them to proceed with a conventional mining operation. Have been doing surface magnetics and other testing in an attempt to locate "channels" of high content mineralization.
So, in summary, although the DDI has doubled since the first of the year, it was starting from a very low absolute value and, potentially, has much farther to rise if one or more of the companies prove economic recovery of metals from their properties. Obviously, I'm betting that that will happen this year, and although I'm favoring MGAU and MXAM, any of the four could come through as a winner. (Don't tell Mazzarella I included GPGI in the winners circle or he'll chew me out royally-VBG)
Let me know if I can answer any other of your questions.
Alan |
