ski...have you followed NMCX much?
Scanned some of the reports, but to be honest had to click out because it was so slow loading and freezing up my system. But that didn't make them less exciting. Large numbers are being offered in these reports, and conservative at that.
I saw a few things to point out and just have a couple questions.
First, the only report I saw was Arizona's. In that the precious metals of Gold, Silver, Platinum and Palladium were priced using 5 year old spot prices, and the report itself seemed like is was 3 years old. Not that that is bad. I'm just curious why a 3-5 year old report is just surfacing now. Further it stated these are estimated values and further testing would be needed. I wish I could copy from Adobe Reader or I'd quote where it says this. Were all the reports showing valuations based on 2000 spot prices?
On the good side, the spot prices 5 years ago for gold, silver and platinum were much lower than they are today. Gold is almost twice the price (they used 231/oz, in 2000 and today's spot closing bid was $431/oz)! Silver was just over $5/oz in 2000 (spot price they used) and today closing spot bid is $7.17/oz! Platinum is also twice the 2000 spot price, closing today at 860/oz!
Palladium is the only metal down from 2000. It's actually taken a beating since 2000. They priced it in 2000 at $707/oz, and today's closing spot bid was $184/oz.
The good thing is, according to the pr, these were conservative figures and do not equate to the 500,000+ tons they believe is there. Between this and the pr concerning the contract, it certainly seems undervalued....bigtime.
So how does this translate to the share price over tomorrow, next week, next month? If their previous pr and GEMM's pr are any indication there will be a decent move up tomorrow but the question remains, will the MM's allow it to run and allow the run to sustain? The pop-run, freeze, then drop it slow and painful is an illegal technique, especially if buys at the ask lead to immediate drops in the b/a rather than posting the TRUE higher bids and asks that are coming in, but they do it again and again. They'll ignore the increased demand at the higher price, post bogus low b/a levels and scare investors to take down their higher bids and asks...then the walk down begins. They did it to this stock on their great pr a couple months back.
With numbers they put out before on their contract, the stock, with it's confirmed o/s, should have been allowed to be priced higher. However MM's have far better odds than any casino and will strongarm individual investors every time unless your lucky and guess right.
There's no doubt this is a play tomorrow based on how it reacted in the past. How far and long it runs is totally up to the guys dealing the cards and naming each bet.
Good luck and good late evening find!
Bo
