Ni, Co, Cu, PGM, Au Properties in Ontario Canada

Producing Mines and "state-of-the-art" Mill

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Message: Re: Norilsk Shutting Down Australian Nickel Operation...

Hi guys, Traps I think many choices will be examined of how to cut corners. The one option of having all the workers working out of McWatters I would think might be one of the best but I bet that depends on what is going on over there.

The one other good thing for us is the money we are receiving now is based on a lower output level. We are always one to three months in arrears. The ROE is getting better for us and the cost of diesal I suspect is dropping too. We get paid for our Ni today based on future prices. The US for all their voting on their emergency bail out procedures has still not worked everything out. Thank goodness we have the financing. If our picture was totally bleak we would not have gotten it. People do not lend money if they have no expectation of getting paid. The analyst for the lenders were taken to the mine site and asked many in depth questions. They were taken down into the mine site and they commented on the streamers. I guess it is quite impressive. I got the feeling the actual grade is higher in the pod then was originally reported so this could be a little positive. No one knows the how long the price of Ni will stay down. Lets hope things start settling out in the economy at least a little.

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