I found it to be interesting. Many interesting concepts he introduces. This is a really hard time for many of us because we look at how much we did pay. Some of us have averaged down and others have not. The shares now being sold are the ones who have given up. The ones who are buying now are bidding and waiting patiently to accumulate. These shares they can sell in the fall at $0.80 and have made a tidy profit.

It is the point of highest risk. We look at declining Ni prices, we hear lousy economic news. I watched the Insider report and saw Dr Nash buying shares again. I looked over at GCR and saw their President selling. We are going to be news starved untill they get that sill done and get into preproduction. They do not want to make promises and not deliver so we just have to wait. We also look at escalating costs. Our trucks run on Diesal and if we have been feeling the pinch at the pump no doubt they have too. We will succeed because our president wants this business to succeed. He has found means of financing us before and we have to trust that he will come up with solutions again. It is tough but we will make it.

In terms of resources - we have great land packages. The package of land between Galata and McWatters is considered very similar to GCR. At these Ni prices there are better choices. The Sothman property we have contractual obligations which we have been able to meet by using our McAra drill (prepaid from last year). What makes it really exciting is all the previous work done has defined the beginning surface resource. I took a prospecting course from a prospector last summer (some geologists spend a life time finding just a resource to begin on). This property is already converted to a lease (this represents 2 - 3 years of paper pushing which we do not need to do). The Ray township property we hope to explore this year. McAra is pretty well defined surface wise as 2 veins worth 100,000 tonnes at 0.2% cobalt. The lease has already been submitted a year ago. Since it is not on fast track it could take another 1 to 2 years. By that time, the demands of our mill should be supplied. Hart, we already know the resource size for it and the company is already working on the feasibility study. The lease is already being worked on and Dr Nash is working on expediting it ASAP. The impact agreement has been signed off with the natives so that is no longer considered a hurdle. Our mill was built in one year where often it could take two years. This year it has been upgraded to handle more ore. Redstone is giving us some ore. When you really think about it this company has accomplished many tasks. Until McWatters, we were always on budget and ahead of schedule. Now how many people have put an addition on their home ? How often have you had to meet new challenges and how often have budgets been blown? When I look at where we came from I still keep my shares. This company has not been perfect. We all know it was over sold when the price of Ni was $22 a lb. I think right now there is still good value in this company so no I don't think the funeral bells are sounding but I do think there are some bargains to be had in this stock.