Thursday morning thoughts

Good morning. Equity markets around the world for the most part are green this morning following yesterdays rally on Wall St. The futures market on Wall St is pointing down, for the open today. But with earnings due out before the market opens from Merrill Lynch this could change quickly. On the economic calendar we get intial claims from the unemployment front at 8:30 am, with leading indicators at 10 am, both have the potential to be market movers as signs which way the US economy is heading. A bit of profit taking at the open today after yesterday's strong day is too be expected. It will be the follow through at todays close that should be closely watched.

Back in McFaulds Lake it was another day of no news. NOT however had its best volume day in last 7 trading sessions. I would imagine investors jumped in on the speculation that NOT would release news today ahead of it's presentation at the National Club. This starts at noon today, so even if we don't get news we should get some updates from NOT. We should see a decent day with or without news today from NOT just on speculation. JMHO

FNC has had lots of talk on the various bullboards on just what Smith is doing with this company. We know NOT did some drilling on its border but only drilled shallow and hit no mineralization. Word out of NOT is they know the mineralization is there but it is deep and they will revisit the area at a later date. Something strange about that, why not drill deep when you were all set up to do it? Is Nemis finally forcing Smith's hand to get off his arse and drill the Fanacamp property? It sure looks like that in hindsight. Keep your eyes peeled for insider buying on FNC, it wouldn't suprise me to see the miser Peter Smith buying when his share price is low enough. He obviously has very little concern for his shareholders, evidenced by lack of website because he doesn't want to "show his hand". Perhaps its not Smithy doing the thinking here but Sheldon Sr. Food for thought !!!

Once again BMK's share price has slipped below the entry point for the mining bigwigs who got in on the previous PP grease job. The rumour mill of a hit with the drill bit, just didn't have any legs with investors. I think BMK stays a dog for a long time here. Only a complete suprise with assays from its current drill program will turn this stock around. The problem I see here with BMK is even if they have fair to good assays investors are going to want NOT like numbers and they are going to be hard to repeat. NOT has raised the bar pretty high with their Double Eagle assays.

SPQ/KWG/FWR's share prices are stagnant. Its like investors just don't care about their current drill program. Last fall these stocks would of doubled or tripled with the visuals they just released. Now the market yawns. This will pass. I think for those with a little longer time frame, you will do well with these stocks. One of two things will get these stocks back in vogue. A big hit from NOT with assays in McFaulds or good assays from their own drill program. Lay your money down take your chances. Personally I think FWR is the stock to own out of the three. Only because of the 100% ownership on that good looking anomoly to the NE of NOT's initial discovery.

Best of luck to all McFaulds Lake investors today. Hopefully we see some volume spikes due to the National Club presentation.



Al