RE: RE: Jimmy Shaker likes NDX I had a lengthy phone conversation with Denver Harris of Sandstorm, ill pass on what was told to me, every one is welcome to make there own inquires.
First off, the most resent news release was Sandstorms initiative, not Novadx, in other words the Initiatives are going to be spearheaded under sandstorms direction.
the Rosa mine is valued at NPV of 20 million and the Rex in valued at 71 million dollars, so Novadx is still worth 91 million dollars, and a large infrastructure has been put into place with a significant upside. NDX isnt bankrupt, as even if they sold all assets paid back sandstorm 30 million, that leaves 50 million or 63 cents a share
The belive that the 2 properties have that significant upside, as per the technical assessment. https://www.marketwatch.com/story/novadx-targets-2012-coal-production-at-rex-mine-2012-04-25
They have concerns that funds were not used efficiently, and they will be placing an individual or individuals to augment the executive team. as per number 4 of the news release
You can read into this any way you want, but the news release states several things and because it was Sandstorms doing, This means its is them that will be arranging the 20 million financing not Neil, Rosa will be idle only until the correct equipment and people are put in place, and a big key is number 4 in the release, Neil will not be calling all the shots, and will probably have to do more listening rather than giving orders IMHO.
After Speaking to Sandstorm, i now belive they have every reason to ensure that NDX gets on solid footing, they still belive in value of the 2 properties and have no desire to see another Royal Coal situation as theie shares and reputation cant afford that.