Ni, Co, Cu, PGM, Au Properties in Ontario Canada

Producing Mines and "state-of-the-art" Mill

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Message: Re: todays s/p

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Jun 04, 2008 08:45AM

Hi Buxom

1./ will full production still happen in November/08

The company has said December/08. If things go well - sooner but lets say the date they have said. If you go to the company web site and the McWatters project page you will see it written about there.

2./ What will recovery be

The low grade ore they expect 85 - 87 % and the high grade ore 89 - 93 %

3./ what will return to liberty be from Xtrata/JNICL

These are confidential agreements but we should receive about 79% of the Ni concentrate value.

4./ what will nickel be at $/lb when lbe goes into full production

I'll give you a crystal ball and you can tell us - hopefully I will say $16 a ton but your guess is as good as mine. Hopefully NOT what it is right now.

5./ What will be to cost to mine

I will say it is about $100 a ton (both mining and milling it ) and the LME is about $156 a ton. (this answer I'm not 100% sure on)

6./ what will net profit/share be

We are hoping $0.01 per share but you have watched the price of Ni right now. I think this is very hard to promise right now.

7./ what will the p/e ratio be

I can't say right now.

8./ what will the upcoming 43-101 on Hart be

The Hart will be over 1.8 million tons at over 1%. Soon we will have the answer.

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Hope this helps a little.



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