This is something that Nickel77 wrote me recently:

The biggest confidence builder for me was seeing the results of the 101 on Hart. Basically, we have 4 years of full production for the mill from this mine. I have seen what LBE has accomplished in the last two years and with the recent drilling and exploration programs scheduled for Sothman, Groves and the Cobalt properties, I have no doubt we will strike another major target over the coming year or so.

Many people on the boards speak as if LBE is the only stock out there that are having problems. I constantly watch all the markets and especially all the stocks I was invested into before. They have all been in a downtrend like LBE. The one major thing LBE has over everyone else is that they will be a low cost producer in very short order. When that cash flow arrives, we will be in a very enviable position. It is hard to see that right now, as we have watched our investment get hammered over the past year. I invested into to LBE because I believed in the management and I believed in the project they have. I am not happy at all about the delays and extra financings, but I keep reminding myself why I invested. In my opinion LBE really does have the goods that few other ever will and we really are just a short time away in seeing it come true.

I haven't heard about the other 11 drill holes at Hart. I heard they had drilled a couple of holes past where the 101 was tallied to. I asked Chris how much tonnage he thought we might have in addition to the recent 101. He felt there could be another million tones down to the Dyke. That would be nice if true and it will certainly be nicer if they can someday find the flow on the other side of the Dyke. I am sure that will come, but production is the key to focus and spend on right now. It sounds like one of the top priorities will be to get Hart up and running by the end of 2009.. Smart plan in my opinion. If there is a good in having low nickel prices, it is that it will force the company to look at every alternative possible to be more competitive. When things really turn around, this will help immensely.

Don't really know how far they are along on drilling of the Sothman property. I know they are drilling as we speak, so hopefully sometime in the next month or so we might start seeing some results. I believe they are supposed to drill on Sothman and then move that same drill over to the Groves property. The other drill they will have working this summer is probably moving to one of the cobalt plays. I believe LBE pre paid last year for this drilling, but that drill broke down and no drilling took place. What ever drilling takes place this year on the cobalt play will not cost LBE anything.