Assay Lab Runaround Covid has certainly inflicted a whole bunch of pain on pretty much every industry out there, and assay labs have not escaped that same fate. However, let’s be mindful that some may be leaning way too heavily on the “Covid delay” argument. For instance, in 2021 Nighthawk repeatedly stressed that delays in drill results was 100% related to backlogs at the labs. Sorry but that is pure garbage. Yes, there were and still are some significant lab delays, but that excuse in no way explains why results from 39,296 metres of the 72,325 metre total drilled in 2021, or 54% of all metres drilled that year were never reported, and still remain a mystery. It’s abundantly clear that all that drilling was a bust, and that’s why it has never been reported or talked about. Given such appalling results, one can only conclude that their drill targeting and execution have been a total disaster - not to mention a massive waste of money. So now we find ourselves in another holding pattern with the company falling back on the same tired lab excuse for their 2022 drill results. Dj vu perhaps. Nope. Fool me once, shame on you; fool me twice, shame on me. Just put the damn drill results out!
Oh! But wait a second....this is all eclipsed because a couple of beloved insiders are buying a few shares here and there in the market. All that says to me is that they are overly exposed and have no other choice (positions too big to fail), but more importantly, there will be no news forthcoming because insiders shouldn’t be buying or selling with news in the pipeline. Forget the argument that there’s no point in putting out news in a dead market - or “no point in wasting good numbers”... I hear this a lot. Sorry, but securities regulations forbid companies from opportunistically releasing data to manipulate their share price. So if insiders are buying now, the company had better not be sitting on good results....period. Put the results out as they are compiled - good or bad - and let your shareholders decide if they want to continue on this journey with you or not. Or as my former wife used to say, “s..t or get off the pot”.