Good Evening NOT

It has been some time since I have posted. Bare with me.

How many years have passed since the great discovery at Mcfaulds? Have we reached 3? Close enough.

As much as things change, the story has come back to nickel and massive sulphides. The story that brought many of us here. The Chrome discovery has tremendous merit, but, the "midlife crisis" in many of us want the massive nickel sulphides... the fast car and the beautiful young lady to go with it... (close your eyes and picture Christie Brinkley in National Lampoons vacation pulling up next to Chevy Chase.) Sometimes we want to ride in that fast car...

Where was I going? right, we want the sexy story, the massive sulphides and all her riches. That was the dream anyway.

Today, I'm a few years older, have lived through 2008, the fear of 2009 and the non sense that remains and is called the stock market. I may be more cynical, but, I still feel the potential for gains is in place for NOT.

There are a few factors I am looking at:

1. The land position remains large, the targets remain plentiful and the company has the ability to raise cash... not always at the best price, but buyers for NOT stock there are plenty. My hope and belief is one day we will wake up and begin to believe again, be born again if you will, that there is more rich nickel to be found on our property, besides vertically under Eagle 1. This requires another find... money and dilligence will be crucial. A hit outside of Eagles Nest will bring us back into some bluesky, and allow us to believe our team has a good handle on the lay of the land, so to speak. A hit on a regional target would get many excited.

2. Our ownership remains very heavy among institutions. (nice to see Pinetree around) There will be a day where the institutions want to realise a return on their investment, and cash in their chips. Given the money many of them made in FWR, there is not doubt they will attempt to repeat what works. Why wouldn't you.

Remember, FWR jumped from low 20's to mid 30's and stalled for a little, only to march and march on. We would need some factors to help get us there, but, strong institutional ownership could help push us in that direction if the story makes sense. A seller can find a buyer if they can paint the picture. The instus are the sellers.

Given the adrenaline, and pilsner, have worn off from those early days, I have to look back on this journey with patience, a little heartbreak, yet optimism. Among other things, the past three years have tought me life doesn't always work on my time. Perhaps the due dilligence wasn't enough, perhaps we were a bit unlucky with the drill or markets, or management changes... whatever the case, many factors looked in place, but our big score hasn't come along just yet.

The question I have, will I actually be around for the pay day. I received a few PM's last week from old friends on the board letting me know something must be up... I could only laugh as I thought of the long position I held... much smaller then days gone by. If a bid from Cliffs or whomever came in, I'd only make some pocket change. Investor fatigue had me.

Right or wrong, I have added to my position, and may add more. Is it right to buy out of fear of missing the boat... no, usually you lose money doing this. I am not suggesting this.

That said, I know this stock as well as I know any of them, and I don't mind what I see. Mrs Wallace won't like me hopping in that Red Corvette with Christie Brinkley, but, what she doesn't know won't hurt her, right. lol... My Chevy Chase moment is here. Is there a swimming pool near by?

I hope you all are well.

regards

cwallace