"""And with Northern Star also involved again it shows a level of confidence moving forward. Need some good results and could easily see this swing back up towards the 2's once it gets past .015. """
You are trying to convince an angry crowd that are fed up with waiting. The reality is, small cap stocks need to raise money to carry on their business. Without money they cannot survive and without money they can not afford to drill to prove up what they have. This is where PXX finds itself now. The more drilling they do, the more likely they can expand their footprint and the more likely NST will hopefully cut them some sort of deal in the future once NST is convinced that they are sitting on a decent resource.
Having read their latest Quarterly NST have 359 million in cash. They produce gold and sell it. They don't spend to much time looking for new discoveries. They basically wait to buy them from someone else.
Thats where PXX come into the picture. That is the main reason that NST have decided to get involved with PXX. Right now PXX must do everything in their power to make themselves look as attractive to NST as possible and as the announcement outlined, this money will be used for additional drilling at their Caribou Dome deposit which already boasts a 7.2mt @ 3.1% Cu deposit. There are also other areas that PXX wish to explore.
As shareholders we have little choice but to be patient, but if the wait is getting tiresome, then the opportunity to sell and move on is always an option.
Cheers.
PXX Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
