Thanks to a reader for pointing out Sprott holdings

A reader today pointed out that not only does Sprott hold 18.2% of ATI, they also own 15.8% of GMR and 14.8% of QEC. Nothing like cornering the market. All Four Horsemen fell hard at the open and then struggled to gain anything back all day. I've mentioned on Stockhouse that I expect several 20-30% corrections as this play develops and it looks like we are in one now. These tend to last 3-4 days and I would expect a bottoming tomorrow with a rebound by Thursday. Nat gas and oil were both up today.

I saw the first frenzy develop on a Quebec shale gas play as GIE Environment Technologies (GIE.V), a tiny oil/gas services remediation company based in Montreal, climbed from $.035 to $.30 today before falling back to $.11 at the close on over 5 million shares traded. Looking at the financials, they have revenues of about $1 million a year with no debt and about break even income. They have a tiny 20 million shares outstanding. These are the types of companies that will profit tremendously in the years ahead as this play develops. Companies in these industries tend to trade at 2-4 times sales which would put the market cap at $2-$4 million or $.10-$.20/share. I would expect it to trade in this range and spike up on any positive developments in the area.