Re: Victor 2009 Post on SH Hart Ni 43-101

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

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

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EB Farnum

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Re: Victor 2009 Post on SH Hart Ni 43-101

in response to

Victor 2009 Post on SH Hart Ni 43-101

Wanderer5

posted on Mar 05, 2010 03:46PM

I think what Victor 2009 is missing in his comments are the markets opinion of the Chinese takeover of 51% of LBE and additional credit extended to LBE as recent as February 8, 2010, to the tune of $4.5M @ 8%. (8% is a hefty interest rate on top of additional debt) The problem I see is financial, not technical. There are always some risks associated with mining but they seem to have them in hand although the jury is still out on getting to full production. Increased production to the required levels will be the verdict which may allow LBE to pay down their significant debt. If that fails to happen JJ could take a larger share of LBE. IMHO the market will not give the nod to LBE until the debt situation is resolved.