YET Another Fantastic Trading Day….
NOT closed @ $ 5.91. UP .35 cents!!! after hitting a daily high of $6.38 which I believe is fantastic when considering the fact that most all metals markets and metals stocks were down…this is an indication of just how much interest/demand there is for the entire McFaulds Lake area…It really seems to have caught investors by surprise…Of course a MAJOR ` attack late in the day tapered NOT’s gains trying to keep it below $6……I believe that will change tomorrow with the better metals prices/markets as the US$ resumes it’s downward slide…
Still NOT has moderate volumes…about 10% of shares outstanding trading again today…this is an indication to me that we are nowhere near the top for this cycle…that was an excellent write up in FP today especially the statement by BMK’s MacKinnon indicating this find was ALL CANADIAN, and I believe that there is plus premium given to ore bodies in good old safe CANADA, as opposed to the Stans South America etc….you know that Canada will not expropriate your ore find, instead will in all likelihood help you to develop it…
I think we should be hearing some NOT NEWS soon…that will keep the interest UP…
I think that the metals markets will have an UP day tomorrow...Turkey’s Parliament is scheduled to vote YES to permit it’s troops to invade northern Iraq to take on the PPK…
PPK has most of it’s bases in and around the Northern Iraq OIL pipelines…OIL of course hit a new high today $88.00 with no stop in sight…the PPK have opened the border with their brothers in Iran….this situation may get really ugly if Turkey goes ahead…
Gold held UP really well today considering the base metals faltered…bodes well for future…
IN AREA PLAYS…again BMK undisputed leader…UP to $67, High of 73 UP 19 cents!!. after hitting a high of 73 cents on trades of over 47 MILLION shares…that’s more than half of BMK’s shares outstanding…BMK is now in extremely strong hands, and I would look for more gains over the next 2 weeks as their drill program next to NOT begins…
KWG nearly took the lead over SPQ , but faltered near the end…these 2 have had great volumes and price movements closing 13-14 cents…they also have NEWS coming with UC drilling at McFaulds…and SPQ drilling the Layered peridotite which contains PGE’s, 3KM from NOT discovery…KWG had more volume today over 23 Million shares, I think because it received prominent mention/heading in that FP news article…
The other area plays UC<PRB<FNC<FWR>…were all active small move ups showing strength with moderate volumes…
I believe that the McFaulds Lake story in is gaining strength and these area plays and of course NOT are going into very strong hands, awaiting NEWS, Drilling results, etc, and of course the resumption of the BULL metals markets…
IMCO
