OTCPK:NOXOF - Post by User
Comment by
MrMonkon Aug 28, 2013 12:30pm
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Post# 21703623
RE:RE:RE:Soon we will know...
RE:RE:RE:Soon we will know...It probably is great news however who knows how the inventory community will interpret this - impossible to read people's minds. On the one hand, they're now the sole owner of a property with 2MM+ ounces in a mining-friendly jurisdiction, and with cash in the till. On the other hand, people might let their minds run wild with questions like "Why would Hecla/ARZ walk from this deposit if it's so good? Something must be wrong with it...". Can't read people, useless to even try.
You need to assess the situation and make your own judgement based on the best information that you have available (and with certain assumptions). If you like this, hold on. If you think it's bad news, sell your shares. It's really that simply.
I personally like this development. They are at an advanced stage now (relative to when they started with ARZ) and able to negotiate a much better deal with a new partner (I'm being told there is interest from others; whether that's true or not remains to be seen). Gold shares are still in the dumps and I don't see a lot of downside here, but plenty of upside. But that's just me. You will have to decide for yourself.
Stock is up one penny...on 15,000 shares. The stock will need a better news catalyst to attract buyers (and engage sellers). Don't look at the penny rise, look at the number of shares traded. Either everyone is on vacation, this news didn't come as a surprise, or it's not enough to get people off their arses...
-- MM