Good post milsy1...

As I have said before, we are undervalued because of this lack of blue sky or speculative valuation, never mind the total lack of valuation for Windfall and other projects/properties.

A company such as NOT would and should not normally be valued only on its resource assets, because the story is still very much about discovery(s)/exploration.

Its funny how people talk themselves into believing what the market is saying in terms of valuation, while yet often admitting that the market is often irrational - a bit of a contradiction there.

I would argue simply, given NOT's extensive land holdings in a highly propsective area with an abundance of other known anomalies, and more to be uncovered by VTEM, that NOT should be getting a speculative valuation at least equal to the value of E1, based simply on the fact that is reasonable to assume, and probable, that will at least identify more economic minerlizatiuon equal or greater in value than E1 given that we know about the geology.

Poly, might jump on this, but pay him no mind... Although he is a valued contributor, he seems to talk himself down in terms of his valuation interpretaion just like some of the other quasi pessimisits on this board.

The bottom line here, is that the markets have taken a huge hit across the board, and nOt ios suffering along with the rest. DO NOT try and calculate what the market believes E1 is worth based on the current SP, because th current SP/market cap exist in abnormally depressed environment. If it was 2007 before of all the housing panic, and oil fears, NOT would have easily been trading in the $7 - 10 range based on what we know now. Look at the charts of many other companies whom have continued to advance their exploration or development operations, with no bad news, and yet most are trading at huge discount to last years prices.

This is a depressed market, and its summer. NOT is not even close to reasonably valued, so stop trying rationalize the current market cap.

Regards,

B.