Scod we saw this in Feb when we were getting our first bank financing and it had to go through the lawyers. We also saw delays in getting McWatters going. It has been like we have been chasing the price of Ni for 2 years now to get McWatters up and running. Being new to mining a couple of years ago I saw this terrific share go up from $0.86 to over $4.50. I never really understood the role of Ni prices and how up and current our institutions really are. They are the price drivers in this world and we ride along.

There is great risk out there in the mining sector right now. Our mines in this area have already shut down once before before their resources got mined out. The Texmont Mine in the Bartlett Dome got shut down because of high fuel costs and a proposed fuel tax that later got dropped. It's grade was 0.9% Ni and Fletcher Nickel has it as their Flag ship property now.

You talk of good news being paired with bad news. I think we all know that happens everywhere. Last spring I paid $1.29 for home heating oil. Diesal for trucks was supposed to cost more. One of the biggest expenses for mining is diesal oil. At the same time we watched Ni prices go down and down. We have all known that these are uneconomic prices. When financing was originally done after the PDAC we grumbled about the amount so Liberty listened and changed what they were going after. We did not hedge our Ni. We all thought Ni will recover and it will. We know the implications of all of the above on our financial statements. We need this financing. Buxom our financing is in the Lawyer's office but until things get signed no one will know the final terms. As far as anyone's words - promises are made to be broken because reality simply steps in. I believe in Liberty. I also believe that during these economic times we do not put ourselves in debt over our investments. For myself, I will keep my shares but I will not buy any more until I see the sentiment start changing and the economy start looking more positive.