Rek here...
I'm still long and strong. I've been accumulating more shares as NOT's stock price has been dropping.
The meltdown of the world's financial markets has extended my time frame a year or two (to 2012) for the market to properly value NOT's huge potential. To me that means a share price of over $10.00 in current US dollars. Buying NOT now at any price below $1.00, I believe, could yield at least a ten-bagger within perhaps three years.
Here are three major reasons why I hold this view:
(1) China, the USA and other nations are committed to building or replacing infrastructure over the next several years, insuring a massive and continuing demand for NOT's resources.
(2) Obama's stated policy of running up the deficit for another year or two virtually guarantees a lower US dollar, and higher gold and base metal prices. This inflates the NOT's share price in terms of the US dollar.
(3) Canadian exploration stocks, including NOT, are extremely oversold at the moment for a host of reasons: a perfect storm and an historic buying opportunity. Some of these factors are temporary, and will end or reverse during 2009. (A "must read" on this topic is Aurony's Dec. 2nd post, "Resource Investor").
NOT's properties eventually being sold to a major is not a concern for me. That is what exploration companies do: find and prove up ore bodies to be sold to a mining company. No one knows now who will buy NOT's properties or at what price. Nothing I can do about that.
What I do know is that NOT has the team and the money to continue for at least two more years proving up a resource with elephantine potential. That is sufficient knowledge for me to keep accumulating NOT's shares.
Rek
