"But the really negative scenario is too little economic growth to support development of these deposits. That is where we are sitting today. These are all great companies , the question is who and when will any money be made. Not looking as good today."

So then you've forgotten all of the posting regarding the fact that majors move well in advance of markets, the fact that being that a mine won't even be up and running for at least five years, large companies would need to plan well ahead and purchase today for tomorrow. I agree that general market trends have an immediate impact on sp's of companies, but the override on that is mergers and acquisitions which create something of a bubble, though not entirely exempt from the current market. China is buying and so will others to maintain their competitive edge and what better time to buy than now. I would not be surprised if NOT isn't orchestrating a deal and has been for some time. We'll see what happens. Will sp's be affected in the present by the current market, of course but then nothing goes straight up or down so there is room to play..... and Nov. is coming and the expectation is for a bullish year end.