RE:10 deposits within 5 miles of Boston mine And if those were simple dig, scoop and run deposits I'd agree that was noteworthy. To my limited knowledge, given the costly extraction methods required for those type of mines, they aren't going to be eager to give away 50% of the gold to Newlox for processing it. I think Newlox's model may work for the limited availability of scoop and run tailings, I doubt the same metics could be applied to jackhammering ore from rock piece by piece, carting it out, loading it on a truck, driving it out etc, for only 50%? of the gold?
If plant 2 worked as planned, and there was steady availability of economical feedstock for it, there's really no reason it I can see why it shouldn't be running and producing profits by now. It isn't and so far management has chose to leave investors in the dark as to why, rather than providing answers. Draw your own conclusions as to why, but usually the most obvious answer ends up being the correct one in these cases.
Once they try to raise money when the shares resuming trading I'm sure they'll be forced to at least somewhat clarify, in their usual elusive and opaque way....so I guess it will be wait and see.
Again, all just my opinion. Let's hope they surprise me to the contrary as I'd rather see shareholders win here than lose. But it looks more and more doubtful to me as the years pass and the more I see management's 'style', to put it nicely.
I mean can you believe that line from the MD&A? If attention to detail like that means anything to one's attention to detail in the business......good luck. A single 5 minute read over should have caught this
"As at September 30, 2024, the Company had cash of $68,651 representing a decreased of $68,651 compared with cash of $108,154 at September 30, 2023. "......durrrrrr