The thing I can't seem to get my head around is that NOT hasn't seen any type of formal offer for their ROF holdings.

Many here comment on how NOT has $10B+ in the ground, or that the Ontario government is willing to invest millions into the Northern infrastructure. That not has a (conservative) NPV value for Eagle 1 alone of over $500M, with huge upside potential. That substantial efforts have been invested in the local communities to increase corporate citizenship....massive land package....huge drilling program...AT12 potential.....etc.

Yet NOT sits here with a current market cap of under $170M!

I just don't understand why there has not been any attempt to snatch this thing up for cheap by some of the bigger fish? I would think that simple greed would be enough to entice some of these larger players to put in a stink bid....but nothing....even as other neighbours are being bought up/into....and NOT's sp sinks further.

I believe that our sp is where its at becuase of the poor results from the 2010 drilling program, but again, doesn't this present a huge opportunity for someone to take NOT out for cheap. IMO if I was on the other side of the fence (large major) I'd be looking to take advantage of this low sp.

Does this mean potential suitors believe the sp will fall further? That NOT is possibly to risky and not worth $170M? That management is not even willing to entertain any offers at this point?

Forgive me if this has already been discussed,

Chris