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

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

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Message: quiet board eom

We'll need additional cash for working capital as we wait for the first concentrate shipments to be paid back to us in cash. We also lose 20t per day of concentrate to JJNICL as per our arrangement. We won't receive any cash for this until our debt is paid off. I believe the turn-around time from shipment to receipt of cash is upwards of 90 days, so we'd need a good $10 million in cash or more for working capital (operating costs, wages, etc) to cover this time gap.

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