Wanderer,

The Ni price is the biggest variable I am concerned about.

I am confident we have a lot of good ore to mine.

I am confident that management can get it out of the ground, and do so efficiently.

I am happy that LBE operates in Canada and not in more volatile countries.

I am confident that the fundamentals are solid in this company, and that with a Ni price above $10 we can make decent money, with tremendous profit increases above that.

A dodgy nickle price though creates a lot of concern:

1. Will we pay our loans out on time?
2. Can we have enough profit to elevate the price back to the $4+ level?
3. Will we generate the cash flow we need for development and operations, in order to get the ore out of the ground, processed and sold?
4. Can we avoid a takeover?

I feel that Ni prices will not sink any lower, but I don't know. World events and economic conditions have established an environment that is different than we have seen before. I don't know if anyone can predict what will happen to nickle prices in this environment.

When I look at the big picture, it seems to me that an increasing or even stable nickle price (at $12 or more say) makes a lot of the uncertainties go away. And if it makes me feel more confident, then maybe it will make the market more confident.

Cheers,

Bluenoser