As I stated previously NKP is not suitable to Short Sell, as an 'announcent' could cause stops to be blown away. Not worth the risk. Even more risky than holding.
Follows is not a prediction, just one of my possible scenarios - 1)BFS is further delayed (we are here) 2)SP drops (we are halfway here) 3)Some news (hope eg court case) is released that assists a pump in the sp 4)Capital raising (say by early 2011) 5)X further delays a potential JV and BFS release 6)Big drop in SP 7)Highly modified BFS released 8)NKP taken over by X about mid 2011 at about x3 premium (say sp 37 -> 110cps) 9) Everyone is 'happy'
NKP Price at posting:
56.5¢ Sentiment: None Disclosure: Not Held