Wow! I can't believe all the "Doom and Gloom" talk i've been reading for the last couple of hours. First of all, we all saw this coming. Secondly, we haven't even given anyone a chance to contact the new bod or even RN for his or their input. I'm sure if RN said this was neccessary then everybody would be saying how great this is. So I look forward to Glorieux's post tomorrow. Also looking forward to hearing from D12 and QQ (or anyone else who contacts the office on a regular basis).
Crazydik, glad to see you are back on board. My guess was that you too would be very negative after reading all the other negative posts. I was pleasantly surprised at you optomistic post (you don't speak often but we all listen when you do).
Canseco, i completely understand why you are upset. I know you contact the office on a regular basis as well. I would be very interested in what you would have to say after talking to RN or the new bod.
Now for my take on this NR. We all saw how the big institutional investors can manipulate the sp down to where ever they want it. If this PP doesn't go through, they will just conitinue to hammer the sp down. I say let them take their 20% at $0.80/share so we can all work together at bringing our sp to a more acceptable level. My guess is the big guys all currently have about 46 million shares between them at about a $4.00 per share average. If they buy up the 25 million at $0.80 per share that will average them down to about $2.87 per share. They did not go through all this trouble to sell NOT at a break even point. My guess is they will at least want to triple their investment which would put us at $9.00 a share. I agree this is not what we all had in mind but i think this is worst case scenerio. What i actually think will happen is that NOT will use this cash to buy up land from other ROF players who will not make it through this economic downturn. Then i thinik they will drill the hell out of the area with more drills than the 4 that i believe are turning now. Hopefully prove up alot more nickle and chromite. Then probably sell off NOT(which will own over 75% or of the provery in the ROF) to a major for 3 to 4 billion. 4 B divided by the appox. 165 million shares is around $24.00 a share. I think we could all live with that, couldn't we? Keep in mind this is only what i think may happen and do not use this as a reason to buy more shares (do your own DD!). Someone else mentioned this but i forgot who. If NOT can get a PP in this market, that can only mean good things in the future for us. Nobody will throw away $20 million in these depressed times unless they are sure they will get it back 10 fold! This should only raise more interest in NOT. Maybe even entice more majors to have a bidding war for our company.
Off to bed now, hopefully there will be more positive thinking tomorrow after some much needed sleep and some conversations with RN or the new bod.
GLTA and goodnight
JGo
