With all the controversy over the past few weeks regarding NOT's weak SP, I decided to examine the relative performance of SPs of other companies who also have a significant interest/land position in the McFaulds area. I was planning on inserting a table here, but was unable to insert it or patch it in and maintain its integrity. Sorry, but here is a summary.

I looked at NOT, BMK, KWG, SPQ, TME, FNC, MTX, PRB, FWR, MC, WSR and UC. Their total market capitalization in June 2007 was about $209M and in June 2008 about $786M.

The major assumptions made here are that the SPs of all companies have been only significantly affected by events subsequent to the discovery of Eagle One and only by events in the McFaulds area, and all things being equal other extraneous, external effects (e.g. overall market behaviour) have treated them all equally but not as significantly.

The exploration activity in the area has increased the market caps of all these companies by some $577M in total. NOT has of course been the most significant contributor at 60% of this total, followed by WSR at 11%, FNC at 9%, BMK at 6% and the others at <3% each. In that period NOT's market cap increased by 767% and BMK by 982%, KWG by 39%, SPQ by 119%, TME by 67%, FNC by 1992%, MTX by 36%, PRB by 358%, FWR by 46%, MC by 104% and WSR by 295%. UC fell by 17%.

The best performers from a SP perspective from June 2007 to June 2008 have been NOT(+500%), BMK(+500%), FNC(+1800%) and PRB(+220%). In spite of the lack of any significant exploration news, FNC has the best performance. Perhaps that is a result of NOT having been unfairly targeted by the manipulators. On the other hand, perhaps FNC's promo machine has been working overtime and the same for BMK.

Although the SP performance of the others appears lower, these companies may present future opportunities for "catch up" to the above four!

Comments are always welcomed.

Respectfully submitted

geoprof