Can't see to many scenarios where someone will be building a hidden position. There are so many share in the hands of BAO and RCF, and options in the hands of insiders that bulding a position would't mean much.

I can see a couple of things it may be. One is the base price for the flow through offering NOT said they are going to do this fall (although I would like to see that in the plus $1 range). Another possibility is a share based acquisition of KWG to continue with the chromite consolidation ( not a big believer in this one but a possibility). The third possibility that this is where we are going to bounce around at until the next trigger event.

Open to other ideas. Most of my 'what if' guesses on NOT have not been very accurate,

... Been There