Disappointed
posted on
Aug 04, 2008 05:21AM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
Am I the only one disappointed with the reaction to the nr?
I will state first that I am long kxl and hold well over 100,000 shares.That being said we were initially expecting a nr in mid may which obviously didn't happen.Then nothing in June or July.Fine ,I'm sure there were legitimate reasons.But this whole time ,expectations kept building and building.
We finally get the long dreamed about nr and guess what.The share price closes in the red down .03! Then we start with the rationalizations. It's before a long weekend, short sellers activity, day traders taking profits, lousy U.S. economy, gold down, all juniors down, there was a full moon in China , etc...
I ask ,who among you expected the sp to drop? Before the nr many posters were saying, $3, $4, $5, when news is released!
The only thing nobody is saying ,is lets look at the nr and ask, Was it what the market was expecting.Don't get me wrong,I was happy with the nr , but was it what was expected.
We didn't hit the mother load,there was no 43-101,overall veins remain narrow,no huge concentrations like before .My overall reaction to the nr was that it identified potential,and lots of it. But potential is not results! Obviously when you drill 100 holes over 27,000 m the total amount of gold is going to increase, so that was totally expected.
Before everyone trys to take my head off,I believe in the company and will continue to hold my shares, but I think that we have to analyse nr's in a factual manner and not an emotional one, and not make excuses.
It was a good nr for sure and I hope that it will be perceived as that soon, but was it the nr that was hoped for and expected? I' m not sure about that. Rico