I guess it doesn't take a genius to see there have been large market fluctuations in the last few weeks, mostly attributed to the US market taking on the chin from banks that deal with people's money like retail outlets trying to sell off stock. The competition in the US has given Canadian banks delving into that market "fits" and its not because Canadian Banks don't know how to make money. It's because they do...and the US seems more worried about making absurd paper profits and are worried less about the impact this has on the individual putting their lifes savings into the bank's hands.

We have learned lessons in Canada from the past errors of our ways, but merging of banks is becoming a bit of a worry here as well. As long as there is competition there is good circulation of cash flow. Once the market is inundated with every Tom, Dick and Harry starting up their own bank, you are bound to create problems much like we are witnessing now.

How does that effect us...I mean NOT investors.

• With 40 million in the bank I don't think we are physically affected by immediate banking issues.
• Majors have a lot of cash, but they may want to hold off buying into smaller speculative companies until they get some "real" numbers to work with. (Oooops!!!.. That would be us 43-101 now accepted and released for public view on Sedar).
• Management hasn't changed..and we have good management.. NOT like many of the banks in the US.
• Bank stocks recover and when they do....the rich get richer fast. Of course the general market settles as well which would help us.
• NOT has held its own in these downturns of the last week or so. A company has to retain some sort of real value to the market even in the worst of times. NOT is bouncing off the bottom.
• We have a great find with other ROF. Banks can't take that away from us.
• Canadian banks are solid. Our financing, should we need it, is available.

In general NOT is sound and ready for the next commodity bull run. It may not be now but if we wait we'll be riding it as a group. The posts will become much better then. We won't all be taking on the chin as much. Good luck...hoping to see a turn around soon.

Mustangman