These are some random thoughts on the Voisey comparison. First, confusion will now continue to reign on current US economic policy, namely economic recovery should embrace US banking , services , and tech sectors, but any recovery in pricing power for manufacturing and resources is "bad" and a threat to the US dollar. The macro picture is therefore simultaneously bleak and retarded. Times are much different.

Secondly, VALE is effectively a foreign national. This is not their back yard. They will do whatever is required to make Sudbury costs world competitive without reference to how good the resource profitability is. And they can take 5 years to prove the point. No Mr. Nice Guy. And they do not need to get anyone elected here.

Thirdly, our own NOT management will in likelihood substantially dilute the shares as close as possible to any type of realization. That may take 6 months or 6 years. We can participate by waiting until a huge issue is announced, and buying back in albeit possibly at $.15 higher than $.70. Meanwhile, it may be more comfort to watch from the sidelines.

Finally, there is no broader market money out there for anything right now, and that seems to becoming more entrenched. Again quite different from Voisey's era.

I love this resource play , but playing against the US government. the Brasilian government , our control block shareholders and Wall Street simultaneously requires much more than a buy/hold strategy.