Seams like the news has been reduced to a minimum on FNC, PRB and NOT of late..... Looks to me like some kind of deal is in the works.... PRB having to issue some kind of warning to shareholders in realocating the drill to Victory... ( Drilling the A1 and A2 anomolies was expected and reported via NR)
This trigered a responce from RN.... The wording of each companies NR reveling a bit of a testy relationship. The explanation of which arose from the JV agreements reported on these properties.
Several key points:
1: don't expect that driling 1 or 2 holes proves or disproves a potential resource.... In the case of PRB several holes appear to have been very near misses.... had even onee hole hit a #5 like hole this play would be significantly different.
2: The companies need to have sufficent money in the till to drill an anomoly extensively.... One should not start a drill program with chump change. The market is unforgiving in this regard... Never ever pass up the oportunity to raise money when you are a jr..... NOT has been very good at raising money at the right time.... FNC has not... 3 times hsaying no to cash when their share price was robust...... This is their achellies heal.
3: Once the core is consolidated, the speculation is going to propell NOT to new highs.... Untill this is done there is still uncertainty how big DE1 is and which way it runs.... NOT has been offering additional information of extensions sparinglly of late.... I believe to negotiate from a dominent position.
I own all 3 so I would just like to see forward progress and consolidation so that McFaulds can be the biggest win for investor posible.... and that will only come from a consolidation of the core.
JMHO