Wednesday morning thoughts

Good morning. The overseas markets are a mixed bag this morning, with Europe for the most part flat. The futures market is pointing to a flat opening in the US markets as I type. Not much on the economic calendar today other than the Crude Inventories at 10:30 am. I have been reading reports how the sales of gasoline was way down in the US last week due to the high costs, so we may be seeing a top in the price of oil here shortly. Some relief from record oil prices is badly needed by the economies of the world or its obvious, inflation is going to get out of hand.

Back in McFaulds Lake, I'm starting to get worried here about the delays from the DE2 reassays. Lots of questions, very few answers. From the moment the lab fiasco happened, with the DE2 assays, it has struck me as odd and something just not right. If the assays from DE2 are so great why is Nemis and team not telling investors what they expect from them? What does NOT do, keep sending them back to the lab until they come up with results they like? Having a hard time believing it takes 2 or 3 weeks to put together a news release from assay results. Funny how assay results come out a lot faster on good news than bad.

Has anyone noticed that NOT says they are drilling steady, no delays? Where are the visuals? When things were going well we had news from the visuals on a regular basis. It certainly wouldn't surprise me to find out the drills aren't pulling up anything of significance or we surely would of heard about it. There is a reason why we aren't getting visual updates from NOT and you can bet it isn't because they are pulling up spectacular core samples and don't want to get investors overly excited about them.

Then the announcement of the JV with FWR leaves me wondering, if you have all these can't miss anomolies why JV with just one piece of property with FWR? Nemis trying to help FWR out by sharing costs and giving away 50% of a can't miss anomoly?

I could certainly understand the need for NOT to go back and drill some more around the original Double Eagle pod. They get visual updates from this pod on a timely basis and the assays not too shabby either. It appears once NOT leaves this pod they run into all sorts of problems. We heard the Eagle had landed in DE2 but what did they find once they landed?

Perhaps, Peter Smith is the smart one in McFaulds Lake after all. Has he out waited Nemis and will get him to define FNC's orebody? Remembering back, Smith thought he had 2/3rds of the Double Eagle discovery on FNC property. Wouldn't it be a cruel twist of fate if FNC was right and they end up being the dominant player in McFaulds Lake with their piddly small amount of property?

PRB is still doing the slow and steady climb in share price. The up and coming drill program from PRB will go a long way in defining what McFaulds Lake is all about. We need a big hit from one of these proximity area plays to get McFaulds Lake back on investors radar screens. In anticipation of the assay results from PRB when it drills, I think we will see new 52 week highs in the share price. JMHO

The rest of the McFaulds Lake stocks are sitting in wait and see mode. They need the assay results from NOT's DE2 to get investors attention. If you truly believe that McFaulds Lake is going to be Canada's next big mining camp it may be time to accumulate some of these area plays, they sure are getting cheap. However, often when stocks look undervalued, there is a reason.

I hate being negative about NOT, but its time we started looking at the possibilities that all may not be sugar coated in McFaulds Lake. When I read how some investors have mortgaged their houses to buy more shares of NOT because it is so cheap and can't miss, I shudder. NOT closed yesterday at $4.48 for a reason, that is the value that the market believes NOT is worth. If NOT was such a sure thing and going to $20 a share, as the Agoracom permabulls lead you to believe, it wouldn't be trading at $4.48 right now. NOT is a highly speculative stock and high risk play. Playing the stock with more money than you can afford to lose doesn't make a whole lot of sense to me. Not trying to scare anyone, just trying to be realistic here.

It was nice yesterday to see more posts on the McFaulds Lake board from various members of TradingChief. Hopefully, with todays post, I raised the bar with the morning thoughts to try and stir up some conversation to the various possibilities with NOT.

Best of luck to all Mcfaulds Lake investors.





Al