I have large holding on NOT and PRB and follow both closely. Yesterdays news sure didnt light a fire on sp for NOT. However, I do feel that upcoming events will soon help sp of NOT as well as PRB. I have posted about this angle before and will do so again as the market pays no attention to it. However, IMHO there are two upcoming events that have potential to positively affect sp for both companies in the near term.

This involves near term events unfolding at Black Creek chrome deposit which is 50/50 NOT/PRB. It also involves upcoming drilling 400 meters north of Eagle Nest on 50/50 NOT/PRB land.

First is Black Creek. The 43-101 resource estimate will come out around the end of July. Look where Black Creek is. It is smack dab in between Black Thor/Black Label and Big Daddy which are owned/controlled by CLF. Black Creek is 2nd highest chrome grade of the four and on the highest ground. Will CLF go around Black Creek when they mine chrome? Plus CLF stated they will build a concentrator on site when they mine the chrome. Wouldnt they want high ground for this? CLF recently paid $C 125 million for SPQ's 26.5% share of 40 million tons of chrome. This amounts to $C125 M for about 10.6 million tons of chrome. Lets wait and see what the upcoming 43-101 shows for Black Creek. At that time some better comparisons can be made. Keep in mind that the upcoming estimate for Black Creek will be based on drilling to 200ft. Black Thor/Black Label was drilled to 400 ft. PRB plans to drill to 400 ft this year which could double the upcoming estimate. Black Creek is a valuable asset. NOT owns 50% of it. Wes says he will consider selling their chrome assets. The 43-101 will help the market place a value on it. I am betting that CLF will be interested in Black Creek and the 43-101 will positively affect sp.

Second is upcoming drilling on JV land 400 meters north of Eagle. PRB plans on drilling this claim this summer. When it is announced, we should get geophysical information in the NR on why they feel it is a good target. PRB and NOT have been sharing data as well as doing new testing. The NR alone should help sp. NOT wouldnt pay 50% of drill costs if they didnt think it was worth the risk. If they should hit nickel here, both NOT and PRB sp will benefit handsomely.

These upcoming events havent been getting much attention, but I think either one has the potential to help sp substantially. I'm no genius, but this is my analysis of near term upcoming events. PRB should benefit a lot as well.

I have been a buyer, averageing down on NOT the past few weeks in anticipation of these things. I remain optimistic, but I also try to be realistic. If there is no impact and sp remains in the tank, then I will be very disappointed and will seriously have to consider reassesing things as NOT has been quite a disappoinment. I very much hope that sp can turn the corner soon.

Good luck to all.