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

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

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Message: Re: quiet board eom

Nov 04, 2008 10:22AM

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Nov 05, 2008 06:29AM

Uberrick, I have heard $6-8 million. It will depend on how much Gary can raise. The thing is the credit market has not freed up and it is very difficult to raise cash. If Gary is talking to anyone - we cannot know. So we wait. I did not phone him because he could not really tell us much anyway. We have to get our paperwork straightened out and the price of Ni is not good. Most of our costs have been minimized so I do not know how much we need in the short term. I think that money can be found. Lbe shares are high risk right now. We each have to determine our comfort level. People are buying the shares and if we succeed they will do very well but right now we are at a crossroads. Those who accumulate usually do not post and people have sold their shares have moved on.

That being said many junior companies are in the same boat we are. ADA reported their 3rd quarter and had good production. Zinc and Lead being down, the revenue was not good and they are looking at using their mill for their Gold properties. They tried to spin off their gold properties in NS and could not raise the capital needed. FAN is way down there too. Nickel plays just as bad. Who would have thought FNX was in care and maintanance. They say the first thing to recover will be commodities but when is the big question.

We have a good company. Lets hope that Gary can work something out for us.

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