In support of your view, I believe some major transactional forces are at play that will take us substantially higher after the US election.
1) The Saudi's don't really want $80 oil headed to $60. While we all know that, this week's GB photo-ops have been parlayed into an "end of commodity cycle" rallying cry, for everything from rice to gas to metals. I live in a small town, and folks on welfare within 300 feet of my door eat well and will continue to do so. Simply put, US and Europe cannot stomach the long term meltdown in capital it takes to punish ALL commodities in a growing world. Macro belies micro and vice versa.
2) I tried to convince my advisor (retail) that his large Canada/US bank ,who covers hundreds of mid-tier and juniors, should cover NORONT. "Look at the added business you can do , if only by expressing a view of the legitimacy of NOT as a spec play." His response was honest (lack of budget, too speculative, no institutional following etc., etc.). Unfortunately, his response was identical to what I got 8 months ago. While I understand they do not want to be seen to pumping the junior market, they clearly adopted a double standard. Simply put, when a couple big banks begin coverage , it will be too late.
3)The road is a persistent boogeyman. As the regional resource grows, the cost will pale into insignificance in the scheme of things. I was in Thompson in 1965 and 1974, and comparisons to that development simply are not relevant for dozens on underlying differences in both physical and economic conditions.
4)The array of valued-added and liquidity-enhancing events coming up, elaborated and discussed by many posters, should bring institutional investors to this in quantity. As RN's underlying strategy for finances and liquidity comes into the public domain, another legitimate boogeyman gets vaporized. However, the big guys realize this, so do not be surprised if a major sneaks up with an offer earlier instead of later.
A lot is up (other than NOT !). Major events will occur to scare us, but they will be overpowered by the growing resource and the realization that $9 nickel is not the inflation that monetary policy can realistically target. Meanwhile, the boogeymen will run wild .
