With the majors and intermediates typically trading at only 60% or so of their former (pre 2009) highs, it is hard to think that there is not 50 to 100% growth in store for them over say the next three years with some restoration of world economic growth. In addition, a CLF for example would now have operationally baked in perhaps 30%+ on top , based on generic growth elements not reflected in the former highs. So, we might realistically see 100% sp growth in three to four years from such shares. That may be nowhere near the 5 to 10 bagger we might dream of for NOT or an FWR in that same period. There are major differences in qualities and risk profiles obviously. As well, NOT's major sp determinant aside from drilling will be how good a job they do in holding the auction. So far, I really like what I see. It is not premature for NOT itself to be in play, because sp growth based on drilling alone is entering a difficult phase, what I see as two steps forward for drilling, one step back for dilution. We already have a big market cap that gets harder to grow percentage wise than when you started at $.50 . Reality begins to overtake the number crunching. Where the real leverage will be is how the mineral deposit(s) realizeable values are maximized. Where a portion, say Cr, can be physically segregated predominantly on its own land base, it will be much easier to realize full value. For NOT the really desireable result will occur if two or more majors have interests in elementally different deposits in geographically separate locations. Title as opposed to a contractual stream of ore remains necessary for major capital infrastructure investment. The next big question is can an early deal be struck for one defineable deposit in a way that provides NOT (as opposed to NOT shareholders) with cash. If so, NOT could become a real growth proposition quite early. If I were to somehow get cashed out of my FWR , that money would be going right back into more NOT at these prices. Right now we have many opportunities and not an enemy in sight. And we have the Wes/Mac charade for our entertainment while we wait.
