Newlox Gold Ventures Inc. (“LUX”) is not interested in drilling holes. It is a junior working on tailings and extracting a little gold in the process. The current reclamation project is targeted at tropical Costa Rica.
The shares of LUX trade in the $0.02-$0.04. Actually that is a bit promotional as they have only traded about three times in the past 90 days. If you want to avoid line-ups this is a stock to buy. No pushing and shoving to get to the front, just place a bid a t$0.02 or below and wait for it to come to you. If you do get filled and the market doesn’t gain some traction, plan on being a shareholder until an exit shows up. On its last financials at September 30, 2015 Newlox had a whopping $1,121 in cash, but has a raised small amounts of cash since. Don’t be too taken back by the company’s historic chart from 2006 forward – it’s a disaster. Steep descent from 2006 through 2009, followed by what looks to be a halt until late in 2012.
The selling point for Newlox is that it is gleaning and claiming gold from old workings. At least the anti to get into the gold reclamation game is small compared to some of the overachievers who now find themselves deep in debt and diluted all to hell in other areas. Newlox has a new December 2015 NI 43-101 on SEDAR for its Las Juntas gold reclamation project and what it is all about. It’s a rather bare report, double spaced, and perhaps so to make it appear of more importance. It does have a clear explanation of what Newlox is and what Newlox is not. The report states” Newlox Gold Ventures Corp. produces a gold concentrate in Costa Rica, which is then sold to a buyer for further processing. Newlox Gold Ventures Corp. does not own any properties and does not have reserves or resources. It is not an exploration or mining company. It provides a valuable service to local stakeholders where there exist a large number of historical waste dumps (Tailings), which pose social and environmental risks.
One caveat of Newlox is the fact that very few of those involved draw any significant remuneration from the company. This not actually considered a plus from our perspective. This quite often results in a lack of incentive and ownership that is normally displayed by those dependent on the company for their livelihoods. Newlox needs to prove its concept is flyable.