OTCPK:NOXOF - Post by User
Comment by
MrMonkon Oct 02, 2013 9:15pm
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Post# 21786452
RE:Termination agreement by JV....................
RE:Termination agreement by JV....................It may go to 5 cents or it may go to 15 or cents - nobody knows which way the wind blows.
The resource payment for Hecla/Aurizon was simply too rich based on prevailing mining industry conditions. It's not surprising that they walked. True that Niogold preferred to have a partner to finance this thing right to production - sometimes better to have a smaller piece of a big pie than a large piece of a smaller pie. However, they're in a good spot now - a nice resource with some cash in the bank - and it's not like they don't have any options. I suspect that someone will recognize the value of the deposit - another JV partner who needs to add ounces. Don't be surprised if another JV partner is accounced in the coming months. Until then, we must sit back and watch the stock do what it will (or sell if you're done with this stock or the sector in general).
-- MM