Massive dumping into the bid

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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MISFIT1

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Massive dumping into the bid

posted on Sep 25, 2007 10:59AM

As Franz said earlier, the houses are throwing everything at this stock. Things are not always as they appear.

They are throwing good money after bad trying to cover from their past shorting mistakes. As this moves forward, there will less and less shares to shake from the tree.

I just wanted to mention Pinetree and Sprott's relationship to NOT. Both were part of the PP last year. To the point where both announced (as required by the TSX) that they were in possession of 10% each.

As of last special meeting, it was shown on the proxy form that no one had more than 10%. This tells me that both sold some or all of their shares. When I think about it, this makes sense as they knew they had warrants.

So any position they have today are from the warrants. We have knocked out 5 million warrants to far with another 20 to go. It is interesting that the insider trading is low. I know they have time to report but my guess is that they will wait out the full results from both properties. Nemis, Novak, and some of the other directors are independently wealthly so I believe they will resist the temptation of cashing some early - even if only to avoid the stigma that comes with management selling a stock.