Re: Liberty Mines Wins Environmental Award
posted on
Dec 04, 2008 12:07AM
Producing Mines and "state-of-the-art" Mill
Well spoken John. It has been so hard watching this be a buyer's stock. Friday was the first day in a long time where we saw our share pop in a long time.
It unnerved me seeing all shares stop selling Tues afternoon. Most of my posts now are to give us hope. I phone Gary, to still hear that other voice on the other end. Liberty is still answering the phone. Our President is still working in his office and he is working for us.
This credit crisis has shown us just how hard it is to raise new cash. Liberty tried to take a financial short cut to save some money and they got caught. There are two prices quoted to a company. One price is when you have them do all the work and the other is when you use your own company geologists to do most of the work and then verification is done by the Ni43-101 company. It is considerably cheaper to use your own geologist.
I once worked for a very smart Sgt. One of the hardest things to understand when you were a your Cpl was regulations. For us it was the Queen's Regulations and Orders(QR&Os). (3 books) To Amplify these Orders were the Canadian Forces Administrative Orders (CFAOs) (maybe 15 books). Part of our training was to answer theoretical questions. So you would find the answer in the first or second paragraph and give that. What you did not read was that very last line of the order that said - if this is the case you cannot do this. It took me a very long time to realize how grey regulations can be. Those CFAOs were there to expand on and explain those QR&Os. Well as soon as you step into a financial world you get surrounded by Grey!
Now you be that person serving at the desk who asks you what they are considering very important question. - Why did I get paid different this month? For us - we stand there and basically ask him Are we going to survive? Instead I politely ask - Have you sent the Ni43-101. I am a shareholder and I ask the simple question and he says yes. I know from my MD&A it is due 2 Dec. My world is simple. I did my research, I verified my information, and I wrote the information to inform us the shareholders. Now I know he cannot tell us what is in the report. We know we had the writedown from our Financial Statements at Redstone. That comes from a source document. Now for the Securities Commission. They performed the audit on us. We are just one file. One person has to sign off all this stuff. He has meetings, other cases to work on, phones to answer and he has to do it right. How long does it take him - as long as it takes. He has to go back over his notes, verify the old document to the new document - read and understand it. Hopefully there are no questions. We on the otherhand have to just wait. In this strange world of grey - you have to understand that answers are always based on how a question is asked. Also we must also understand that everything takes time.