RE:RE:RE:Shocked and surprised Royalty streamsThat $100M or so in Novo "investment" is gone. IMO, QH fits the 'huckster' mold perfectly. Screamed '67 g/t', and has come up with tissue-thin excuse after tissue-thin excuse, since, for not replicating that result. The only other numbers we have are much poorer ore. Every press release puts out hints that there might be rich ore there: "fine gold!", "nuggets!", videos streamed around the world of people walking around with metal detectors, etc.. Newsflash to Novo "investors": thousands of fossickers knew there were nuggets in the Pilbara long before QH showed up there. Read QH's history, at Springpole and Evolving Gold. Those aren't cherry-picking; they are the main activities he was involved with previously. Investors got crushed on both of them. QH has never produced a winner.
Hennigh's weakness will be familiar to many researchers: he does not try to falsify his hypothesees. He tunnel visions in on one possible explanation for the data. Not a great approach to invest in.
Here are Hennigh's comments, after Springpole face-planted. IMO, Hennigh sound's exactly like Dumpster Trump "believe me, believe me".
Investors disappointed with the resource traded Gold Canyon shares down 56¢ or 23% yesterday on the news, but the stock recovered somewhat to end the day at $2.10, or 15% lower.
In a conference call today, Quinton Hennigh, the company’s technical advisor and a director of Gold Canyon, acknowledged that investors had been expecting “a much larger number” out of the resource.
However, Hennigh emphasized that the resource was based on very conservative assumptions about costs, metal prices and recoveries in comparison to other resource estimates.
“I have worked for many major mining companies for many years of my life and I feel it’s important to put numbers out that are realistic,” he said. “The assumptions, although conservative, speak volumes about this project. Basically, I feel one could throw an atom bomb at these numbers and it would not fall apart — these are as solid as rock.”
Half of QH's comments are about how he's being conservative, and how rock solid his estimates are. IMO, you can almost hear his subsconcious screaming that he's exxagerating. Gold miners, lie or "exaggerate" about their deposits to pump up the share price? Never happens! (sarc)