The short term answer is yes. Our share price is dismal with very little hope of improving in the near future. Much as that pains me to say, but it is the current situation. Exploration companies will run out of cash in the next few months and go dormant. Producers carrying large debt loads (which is just about everyone in mining) will soon have problems getting anyone to cover maturing debt and we will see Chapter Elevens and bankruptcies. The global meltdown so far has been a media event. "Joe Plumber" hasn't lost his job yet to the degree he will in the new year. Once the real job losses occur, the real impact on consumer products and commodities is going to hit. Here in NL, they just announced the closure of AbitibiBowater mill in Grand Falls. IOC just announce the shelving of an 800 million dollar expansion and a one month shutdown in July. Voisey's Bay just announced a one month shutdown in July. This is just in our little province. So you have to forgive the BOD for being reluctant to rush out news, it will be to no avail. It may be prudent to hold news if legally possible and make a release when it will have some impact. Now is not the time to increase our book value so a major can pick us off for peanuts.
The long term answer is no. Our share price is dismal just like everybody elses. Producers will shut down and supplies will diminish. Eventually the strong will rise like the pheonix and NOT has loads of strength. Joe Plumber loses jobs in millions and governments will follow through on infrastructure projects which increases demand for metals and minerals. We may even get our road built. It will take some time, lucky for those of us who have some. I hear optimists say six months. Others say six years. I am generally an optimist but somewhere in between is the truth. The brilliant minds that accelerated markets last year by creating ingenious ways to package and market debt still have brilliant minds. These minds are still motivated to create wealth and commerce, hopefully in more tangible ways. There will be a rebound, but it is very difficult from my insignificant perch to watch the process. Seems I am not alone given the low volume of posts on the boards.
Mike
