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

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

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Message: Indep Committee

Mikeyman, we knew this quarter would not be good. There was a big rightdown on the value of the Redstone Mine. There were care and maintenance charges. The recoveries on the low grade McWatters were actually very good. We all knew what Ni has been selling at. We are up for sale, merger or whatever and that is what we have to look at. Companies will have looked at our financials when they made their offers. Now our sharevalue is beyond our control. I will wait. Who knows what offers are being made. I know our land package (not as well as others, I realize). I can walk away with sp of 4 cents or take my chances. I will take my chances.

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