"People are rethinking their portfolios and speculative capital is one of the first casualties during a credit crisis such as the subprime mortgage situation in the US. The liquidity has gone out of the junior markets"
Well thats exactly what happened from my point of view. There's just no juice in the market, with speculative capital being withdrawn from all forms of investment - not just juniors. Now the price of gold slipping in not helping. One must focus on value at these trying times, and no doubt NSM has lots of value.