OTCPK:NOXOF - Post by User
Comment by
alixx11on Mar 27, 2010 8:52am
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Post# 16931130
RE: Hanging in......
RE: Hanging in......Let's do a re-cap :
Are they in financial difficulty?
No. And if they raise the SP a bit by Xmas, they can do another, higher-priced financing.
Has management shown themselves to be incompetent?
No, not yet. They're late with news sometimes, but it comes.
Do they have a promising resource?
Yes, we know they do. A million ounces, and an aggressive plan to try and grow it to over 2 million within the next 12-18 months.
Last year when they did the financing, they also issued warrants. They can be exercised before January 2011 at 50 cents, or January 2012 at 75 cents. I'm using that as my rough guide, meaning that I think the SP should be at (or more likely above) those levels at those times. If not, time to re-analyze...
I've been in since Fall 2007, I'm certainly not looking for the exit anytime soon.