FWR was taken out for $240 million....those shares tendered to Cliffs are now worth about another 12% higher....too bad for those who believed NOT management...something about you being better off tendering to NOT, rather than to Cliffs

The recent offer for SPQ puts it at a market cap of $109 million....add to that the intended offer for KWG at $100 million = the market cap of NOT at about $210 million....and that is for primarily 53% of the big daddy deposit

That would mean if NOT wanted to make a run at SPQ + KWG, NOT would have to give away 50% of the company

....and NOT calls itself the king of the ring....first with a chrome resource.....blah, blah, blah....biggest exploration budget....well, we certainly do spend the most....

They run these advertisements....go out to supposedly promote the company.....fall short of even filling the recent PP.....and a flow through at that

When NOT announced the PP....they used a term like ....on a best efforts basis...and allowed for about a month....really showed alot of confidence....afterwards, the stock price was allowed to decend.....down....down...down

At around the same time, Hoov and Glorieux meet with management....since then, we hear little from them.....as the share price goes down....down....down

And some dare to short NOT...by about 1 million shares....the only one's making money on this play over the last while; about a year now since we were at $3 with the great news...the results of hole 49....a tripleing of the resource....so anyone who bought on that news....well, your down....alot....and if you shorted NOT, well, congradulations for a good read.....(wink...wink)

And with so much supposed optimism....the blockade gets lifted....the throne speach....the deep drills...and the share price goes down....and the short positions increase....

Then NOT comes out with some news....infill drilling......with great grades.....and the market puts out a big yawn....a blown chance to burn the shorts... perhaps with a comment about how far down they are hitting mineralization.....but, no....not their policy to report on visuals.....so the stock keeps going down....and the short positions increase yet again.....and the shorters make more money yet....

We're becoming like the Euro of the small caps....just a great short

And here we sit...with a market cap of about $210....less than what FWR was taken out for....and about the same as what KWG + SPQ will be trading at tomorrow