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Message: Re: Edmonton Meeting, Part II - The Details

Sarlock,

Your summaries of the Edmonton meeting were very accurate and there is very little I can add.

I would first say that I think the Edmonton meeting was for Liberty Mines to solely update their shareholders.

I felt Gary was very open with investors in giving his responses to everyone’s questions and/or concerns. He seemed to take as much time as was needed to make sure everyone knew exactly where the company was going without shying away from any question.

Regarding the funds that will be needed to see us through to full production; over all I took it that the company didn’t think there was going to be any problems in lining up what ever they need.

Maybe one of the solutions could be the use of the upgrading of the Hart 101 to a bankable 43-101 ‘status’ that is supposed to be out in November sometime. Once bankable, it could be used with any major financial institution as an asset for collateral to receive whatever funds we need, (both short and long term) until Full Production is well under way. This would allow LBE to get whatever funding is needed, without any further dilution of shares.

Regarding your impression that Gary “squirmed” a little when asked about loosing the mill, I took the opposite view. My impression was he came across with “strength” as he immediately responded, “it is virtually impossible to loose the mill as LBE can generate more than enough cash @ 8.00 nickel to pay of the 16.3 m loan”.

The only other things I found in my notes that weren’t covered; Gary mentioned of all the financings to date, the average price was at 3.00 dollars. There was also a question whether or not we would meet all our ‘flow through’ obligations, which he mentioned “they already have been met”.

Thanks again for your summaries, they were most appreciated.

Nickel


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