SP provides for a serious opportunity to load up once again. The summer doldrums will put enough price pressure on that we may load even well below current levels.

Notwithstanding ongoing dilution, if one looks at 2010 FYE SH and now, on a material base it is cheaper than ever. De-risking cannot be stopped, it's too far through the pipeline, which was not the case FYE10.

I view enough has been said by everyone, It has been analysed form every angle and all corners, of course Baostell bought in at .84 with a 10% stake, for them just a small absolute amount of money for ensuring future supply. A hedge on the financial markets would have been far more costly, RCF the same, buy in at over .60 and knowing upfront that upside on a calculated basis is far stronger than the chance this goes for below .30, hope to see that number during the summer for loading up the truck once more.

Polotics is one thing, the material base cannot be left outside of view. I will keep my eye on the ball even if no one in Canadian politics will do. The model now shows a 70 to 80% likelyhood that this puppy is the next to run coming autumn or as much sooner as possible. SP manipulation is fun to watch with the longer run set in mind. How long ?

I like everything oversized if it comes to NOT. So Coutts, make us a nice surprise and catch the dark horse somewhere out there. I have no doubts whatsoever that NOT will be a mine before X-mas what year ? let's say it will takes us 2 more years than the earlier projected '16, 2018 is the year of having an everyday NOT golf tournament.

The longer you hold, the stronger you stay, let's scoop some shares on the cheap.

Spot quotes are non-LME prices

NOTsters can be happy at this point in time about the institutions' share in the company. Baosteel and RCf's presence prevent us for a cheap and hostile take over, as it is clear we are now on the radar of some of the majors. Baosteel's deep pockets is a nice to have voor Coutts cum suis.

For 2015/2016 this may however change, Baosteel strives eventually for probably nothing more than a supply guarantee before selling off above their par, RCF is a hedge fund with a character of its own, they will exit if other opportunities arise. Will this put a cap on the SP going forward ? A dark horse will be needed to prevent high capex and own deployment by NOT, anyway in most cases only 1 out of 1000 juniors make it to mining stage (RN: This will be a mine still stands, lucky us), and then only a very low percentage does not get bought out by a major. It is highly unlikely that NOT is going to deploy for own account, given the facts that the de-risking process is much further ahead than most of us on this board think - probably due to patience game in past decade - a take over bid is coming NOT's way as the most probable scenario and outcome.

How eagerly willing will RCF and Baosteel be to collaborate with retail shareholders ? Baosteel has a diiferent interest at the side, highly unlikely that they will increase their capex for nickel as Mid 2016 price cap on Nickel is expected (Indonesia's 11 ore plants coming to life). We absolutely need to move the SP in an upward trend, how is the question, it is the one and only protection wall retail can handle and organise themselves..... How is the question.

The large buyers of ore are clearly in the Far East....

....NOT has to move up along the de-risking process, or a hostile take-over can be our part overnight. It is the institutional stake in NOT (at least over 30% of total shares outstandings) which tell me it will not be an outsider, Baosteel or RCF can make a swift move from where tehy stand, however they probably want to keep the edge they have, the reasons why they are in may be quite different (guarantee for delivery versus a financial bonanza), I'm happy to have these parties around this time. At higher SP game is entirely different, who can still be a player then.

The time is has been under the lid, or under the radar, seems a pschycological barrier for the hausse in this share, which will be our part if everything is said and done. Patience was our best friend, not any longer as we are nearing development stage, if this does not turn into clear and steady rise of SP, I will start buying once again. Based on your own DD, you should probably be doing the same in the range below .60, .80, 1.00, before we enter the former parabolic. If not parabolic, I will send Coutts Dutch flowers to thank him for not finding the dark horse.

Our overview of potential buyers at the end of the day: Cliffs (at 5%), Rio Tinto (at 15%), Glencore (at 25%), Norilsk (at 5%), own deployment (less than 2%), BHP (5%), Baosteel (less than 5%), RCF (less than 3%), Anglo (15%), dark horse (20%). Who is likely to pay the price retail likes ? It is up to the bookmakers, almost there, living happily ever after....

Nickle prices moving steadily upwards at the same time of the ongoing derisking process of NOT. NOT SharePrice needs to move hand-in-hand with de-risking as hostile bids at these levels will only serve as curtains of smoke.