Market Timing

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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summit1

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Market Timing

in response to

Re: If you were on the BOD-share price

Sum4All

posted on Feb 28, 2009 06:45AM

It is with a bit of concern that I see everyone showing such willingness to try to sell this company at the present market value. I cannot understand the rush to get rid of the company at the (near bottom) market value today. Maybe it is because I am in at an average of over $6 that I am afraid that they may decide to give this "chance in a lifetime" away at todays prices.

I keep comparing this to a very good house that is being remodeled and improved at the bottom of a very poor housing market where people are selling comparable homes at a fraction of what they are worth. We could sell this house at todays price and possibly be given less than it cost us to buy the house and also losing the reno costs.

If we could wait for a few months, the market is almost certain to turn around (as the population is still growing) and give us the opportunity to sell at more than twice todays price. I think that if we have the money, it would be prudent to finish the improvements and have the house finished and ready to sell when the market improves and there is a larger group of buyers ready to bid the price up for a newly renovated home that looks great and is ready to live in.

I think that the same is true of NOT. We have probably the best property in the area and are working on getting it proven up. At todays price we will get very little for the property as we are at the worst part of the market cycle. Within a few months we will quite likely be past this part of the cycle with much more work having been done to improve the quality and will be more attractive to companies that will then have a market for the products that they will be able to produce.

I think that if we can use a bit of patience and continue quietly getting ready for the coming market improvement, we will be in a much better situation to sell this great property at a much higher price.

As you can tell from my buy-in price, I am certainly not good at predicting the market. However there seems to be a strong feeling from many well informed people that we will be in a much improved market within the next 12 months and will have a much more interested group of mining people looking at what we have to sell.

I hope that we have the strength and character to continue until we have our company shining in a much better market where we can come away with greater satisfaction and much larger profit.