I am a long-term investor in LBE, so I am not overly nervous about the 2007 financials. However, that does not mean that I give no weighting to them, or that they do not make me a little nervous.

I am a supporter of Gary and the LBE management, but I would be remiss if I did not note that there seems to have been a recent change in the level of forthrightness and urgency by Gary in addressing the obvious questions about level of production, financing, timelines for development, etc. I do BELIEVE that he told me by e-mail (I have misplaced that e-mail) that the Annual Report would follow the financials by about one month, so I do hope that he uses that opportunity to bring us up to date FULLY. I believe that the current AIF fails to address these issues in the most current manner.

Personally, I feel the Q3 of 2008 will be the key quarter for acting as a springboard to true profitability, but that's just a hunch.

I plan on analyzing the 2007 financials in greater detail, and, if I find anything worthy of sharing in this forum, I will post again.

One caution to all LBE longs though: don't panic and shoot from the hip. Sleep on things a while longer; then make your LBE investment or disinvestment decisions.

-- R.