RE:From @OLRWisGuy1 wrote:
As his family’s ownership of Novo moves above the 1% level, OLR thanks those who sold NSRPF shares to him at 17¢ when the company was dropped from GDXJ. He further notes with pleasure that each Novo share added includes roughly 0.007+ shares each of E3D and San Cristobal (in the latter case adding to his separate direct ownership position in San Cristobal). He also wishes good luck to those continuing to bet against the geological knowledge and entrepreneurship of Quinton Hennigh on the one hand, and the rising price of gold on the other.
Everyone who has bet against Quinton Hennighs "geological knowledge" seems t be well in front. There are few geologists out there with a worse track record, a fact seemingly lost on the few long term holders who will have to accept reality one day and write offvtheir investment.
The results of trenching at Purdys Reward (which were not revealed to US until the minerogy report was released 18 months later) should have been enough to convince any geologist that the wide distibution and overall low concentation of gold would make conglomerate gold uneconomic. But no, Hennigh continued to promote his wits 2 theory despite this contradictory evidence and further information about the minerology we were never told, and we only became aware of when the CSIRO relesased there report. Poor work...its usual to formulate a theory to explain observations, but Hennigs approach to start with a wits 2 theory and select only a few characteristics as proof and ignoring the rest is not competent science.
Enough was known historically about the geology at Egina to rule out any possibiity of economic gold, how could Hennigh, apparently a qualified geologist not recognise this? How could he ignore well establust geological observations?
Then Bestons Creek which was always hoingvto a very challenging deposit to mine economically due to extreme grade control problems that were obvious. Yet Hennigh pushed on with mining,competrly ignoring the basic characteristics of the ore.
There are further examples prior to his Novo experiences where he completely missed the mark.
No wonder he no longer shows his face in the Pilbara...