InvestorsHub Logo
Followers 1
Posts 90
Boards Moderated 0
Alias Born 07/20/2008

Re: gsfl post# 101

Thursday, 12/09/2010 8:05:12 PM

Thursday, December 09, 2010 8:05:12 PM

Post# of 156
I last purchased NOT shares ~2 weeks ago for $1.25 (10,000).Prior to that, my cost average was ~ $0.87. I thought NOT was a good deal for $1.25. Today we are two weeks closer to receiving results of the 13 regional exploration targets around Eagle's Nest, so I picked up another 5000 shares at $0.92. I cannot see much downside risk from here. I think that the risk is limited that 0 of the 13 targets will provide promising results.


Some think that the SP will drop to ~$0.80, which is the ~ break even price for those who recently took part in the recent flow through share purchase at $1.25, but this doesn't make sense to me since those have a 4 month hold period. Even if the SP dropped to that level, and we were subject to a hostile takeover, any premium would likely be at least 20% above that, so my shares bought today shouild at least break even.

As an aside, I had a very difficult time today deciding whether to add to my somewhat overweight position in NOT at todays bargain basement prices, versus adding to my much smaller position in ATAC Resources which I believe is also a steal at todays SP. I chose NOT as I think that ATC might still drop to the $4.50 range prior to the outstanding drill results being released over the next 3 weeks.

Cheers, Luker