Now I understand that the whole market is tanking; problem is we've been driven down so much already and are left here in a position of weekness ...as a starting point to this big washout.

It's no wonder the big money has been sitting on the sidelines.....they were waiting for an event such as this. If they don't get enough, I'm sure they can count on Wes and company to do another PP to top up. Wes himself, along with the others calling the shots, will surely take a stake as well.....as a show of confidence of course.

I speculate that the plan goes something like this:

1) Do a flow-through PP at the current stock price (this effectively drives down the share price to an after tax value). Spend that money on a failed drill program (example: problems encountered in the deep drilling program; program discontinued; change of focus to AT-12)

2) Do another flow-through PP at the current stock price. Announce poor results from that drill program as well. Change focus to a program once described as non economical (such as drilling for chrome)

3) Have the CEO sell a large percentage of his shares. As that becomes public knowledge, that reduces confidence further in the stock.

4) Sell a 15% stake in the company to the Chinese at the already depressed stock price with all sorts of conditions attached, which favor a further depressed stock price to the purchaser (example: option to increase shares in the future at the going stock price).

5) Spend that money on things that add no value (work on feasibility study and drill for chrome).

6) Make excuses about the drop in your stock price (appear helpless to the market thereby further weakening people's confidence in your leadership)

7) Back up the truck and load up with stock options....sell some to your friends as well through PP's.

Now why would they do that? my best guess

Apparently, Wes walked away from $5 million to come to NOT. How many stock options at these depressed prices will make that all worth it?

Of course, this is all just speculation on my part....you are certainly welcome to draw your own conclusions.