No, I've had some time to think about this, and I'm cautiously optimistic at this point. I don't know what went wrong at the lab, but whatever it was, I now believe it caught them by surprise. The more I think about it, the less this looks like a pump and dump. I haven't seen any of the hysterical touting that usually accompanies a p&d ("Going to the moon..." etc.).
What's gotten me excited about the news release (I missed it because I was so riled about another delay in the results) is the positive attitude of the surrounding community. They're going to need that to proceed any farther.
If I fault the company on anything, it's not keeping the shareholders informed of the delays at the lab in a timely fashion. We should have gotten a stream of PRs telling us that they were facing unexpected delays at the lab, that they were working on it, etc. etc. Stockholders hate bad surprises. Then again, you can always contact the company directly with questions.
We need the following for this stock to get back up past a penny or two:
- Good results from this sampling. Even if they found more micro-diamonds, it would be better than this endless waiting.
- Clearing up the bad mark on PennyStocks.com (I might have gotten the URL wrong, but you know what I mean. I should be in bed sleeping, and I don't feel like taking the trouble to look it up)
- A stream of PRs. No news is worse than mediocre news.
So, worst case: results come out this summer, showing no diamonds, not even micro-diamonds. Pretty much game over, man.
Next worst: results delayed again, stock price drifts down further and further, all of us stockholders rip our hair out in bloody chunks.
Better: Micro-diamonds are found, more sampling is required. Some stock dilution occurs as funding is developed, but the stock price may go up a penny or two.
Best: Macro diamond(s) are found, a more extensive sampling program is announced. Even though dilution of shares occur, the stock price probably goes back up into the 10 - 20 cent range for a while. If a mine proves feasible, the stock price climbs steadily over the next 3-5 years as the mine advances to production, eventually reaching the $5-$10 range. That's the dream, isn't it?
Speaking of dreaming, I think I'm going to go do some of the real thing now. GLTA!
- Pete
