Well Nickel, its not just like you at all, is it. And yes you did bring up some ISM issues on this forum. Unlike Traps, who actually brought up some good points, you do not. As Traps points out there are plans in the SRK report recommending further exploratory drilling to try and expand the life of the mine. That does require capital. Just like Redstone will require more capiatl to get it fully operational. And then theres the question of Hart. Is it still the plan there to sink a deep shaft to get at its ore. Those require lots of capital.

Thanks for calling me an expert but thats a bit over the top. Okay just a little then. You point out one good point and I hope Micon does use a much higher discount rate. It has nothing to do with timing of production, but the nature of risk in mining. Traps clearly points out that there are risks involved. SRK using 8% is fine on its own. But since the money to get this project operational has been borrowed from the Chinese at 8 & 10%, do you not think it would be wiser to strive for a higher rate of return? I mean BCE common is paying 6% plus in dividends. Some REITS are still yielding 8% plus. I don't see one mine being any riskier than another. All I'm saying is that it would be nice to share other discount rates that would better reflect the risk inherit in mining.

SRK has done a fine job in proving McWaters as a stand alone project. How its cash flow satifies the needs of the company is not SRK's job. The Chinese burden is due, I believe in May of 2011? Will they grant more credit by then? Will they convert some of the preferreds into common equity to lessen the interest burden? Do we know the interest being paid on the extra $4.5M line of credit? When is it due?

No it doesn't require an expert to ask simple questions of what if.