I've only been in NOT since June 2018 when Ford got elected so I don't have the feel for the stock of others here. Wanted to test out my thought process here.

My thesis in 2018 on NOT was that the EV/climate change build up happening under Wynne coupled with Ford's bullish talk about jumping on a bulldozer himself meant NOT would benefit. The EV/climate thesis played out faster than I expected but Ford turned out to be a salesman. My exit strategy was once the road broke ground to sell on the hype. I had in mind that in 2006 it took 7-10 years to get a mining permit approval in Canada, so let's generously say they start the road in 2023, apply for the mine in 2024, it's more like 15+ years not the 2006 7-10 years to get a mining permit. 2040 before they start actually mining?  (https://www.nrcan.gc.ca/sites/www.nrcan.gc.ca/files/mineralsmetals/files/pdf/abor-auto/mining-guide-eng.pdf).

I thought blackface would sink Trudeau and any EV/climate change infrastructure spend. But not only did Trudeau pull out a win, he also got a global pandemic sized recession to justify a big infrastructure spend. Dominos are falling. Biden announces the first part of his infrastructure spend this week, the squillions they'll be ploughing into electrification and critical minerals will spill over to Canada.

Exit strategy for me hasn't changed, I'm out on the road announcement. Watching NOT operate these past two years has not given me any confidence they'll stick handle through the regulatory process to get a mining permit in a timely way.