Good Evening NOT shareholders and Co.

It's been a fairly soft week... good to see some volume, perhaps a bottom is forming, a real bottom and not a trade. I'm not interested in trading... don't call me lazy, I just don't want to miss the ride and certainly don't feel I am skilled enough, although I have the opportune.

So, shareprice aside, lets review a few things.

First, we have picked up some key players... I can't tell you how impressed I am with this group. When a figurehead with Arizonastar shows up and our consultant Professor joins the ranks full time, wow.

Honestly, when Professor Mungall joined our crew fulltime, what does that tell you. He already had a nice package of options, he could carry on his comfortable life as a prof... I assure you, I am aware of the prof life, although I am not one. I wonder why he would do this.

Perhaps he is curious about what he will find and sees a venue to learn... good on him. I am happy he sees something worthwhile to study, and one day further make a name for himself... perhaps the ROF will become the Mungall formation, or better yet, Mungall's ROF... lol, sorry. I suspect he sees something incredible forming.

Or perhaps its good old fashion greed... maybe he thinks, and to quote Richard, "this is the grand daddy of them all." If so, I appreciate Nemis thinking that, better yet, our geologist Professor Mungall. Whether it's to learn or to make a few bucks, I wish him success in both and welcome him to our company.

I say our company because we are the owners... you and me... we are owners. Don't sell that short... you own shares and so do I...and our leaders have attracted some top rate talent to our company, inspite of our dogged share price.... how did they do that?

I won't dwell on Chromite as no one but JD and miskealp really seem that interested. I mean, we are interested, but, Nickel is our story, isn't it.

On the nickel front, we are overdue for results. I am certain D12 hit it on the head earlier and we are delayed due to a second assaying. We have nickel above 1% at DE2, this much is clear. How big, who knows? How high of grade, is there any comparisons in the area? Give us 2% plus and lets add some long intercepts.... that will wake the market, and will certainly awake some of the giants looking over the fence at Mcfaulds and our ROF. When will Nemis control 80% of the ROF, oneday soon I suspect, inspite of PRB and FNC.

Back to Nickel, should we have a second find, what will you all do? Honestly, will you consider yourself an owner of one of the great finds of the day, or will you trade for a buck or two.... fine if you do, but I assure you, these are early days and there are many bucks on the table once a second high grade find is found. We still don't have it, but it feels closer then ever.

Oh, I forgot, what about the chromite and owning the chromite market, or atleast a world class mine... is that worth a nickel, pardon me.

We have ridiculously thick chromite intersects. Perhaps everyone could change there focus of DD and say, we are here for the Chromite... please check it out. The average investor will focus on the nickel, I did... and yes, CVRDinco will be here for our Nickel, but what if we have something else that is atleast as good,... hopefully our shareprice would reflect it.

IE, if DE1 is worth $3 a share.... perhaps DE2 is worth atleast that also. I don't care to piecemeal our shareprice... this much land at the ROF is priceless atleast until the next $100 million of spending proves up our value to be something other then priceless.

I expect the 43-101 to come out sooner than later to tell us all about the chromite.... tonnes from DE1 are good, but the story will surely be about chromite, and hopefully allow our guys to compare us to South Africa, etc.... can you believe that I feel the story is about Chromite with the grades of Nickel we have hit... perhaps the best ever.... Honestly, that should say something. Yes, perhaps I am ignorant, but, better yet, maybe there is a chromite story here. Hopefully when the 43-101 comes out we will have some speculation on tonnage from a second high grade nickel find as well.

What is left to cover?.... (aside from windfall) we need some active promotion overseas and to brokerages.... brokers need to know our story, through and through, and promote us. I am sure brokers/analysts get calls daily from 2-bit companies all over the place pitching their BS.... I got news for you, the NOT story is as good of story as there is to tell... get the IR guys on the road NOT. It's time for the big money to come in... us retail guys have had plenty of time to get and hold our positions, thank you.

Finally, a quick note, for a good read, Alex Doulis has a book: "Lost on Bay Street: I came I saw, I almost Conquered" I am through a dozen chapters and find it entertaining and interesting... look for it at the librairy or online. There are worse ways to spend time.

We are entering summer which is always a difficult time to own juniors, even superb ones like NOT.... have patience, go on a holiday, rest comfortable that management has a plan.... from what I can see and hear, the plan is a good one.

not financial advise, due your own dd

Warmest regards on this summer Solstice.

cwallace