Nickel77,

I do understand & I do get it. You don’t want to include the financing costs in the cost per pound because the mining industry does not include it. That may be a mining industry standard but it doesn’t work in the financial world; it’s the bottom that counts. Nothing else! The market / financial world just gave a big thumbs down to your “mining industry standard”. All the mumbo jumbo won’t make any difference.

You say the difference in the cost of production and the price determines how much is paid off on the debt. I have not seen any debt paid down, have you? In fact, on July 16, 2010, JIIL advanced Liberty $1,400,000 under the same terms with a due date November 7, 2010. AND having a look at the Consolidated Financial Statements - Notes payable and accrued interest at June 30, 2010 is $12,553,714. See details below

(lots of notes coming due this year and as early as August 17,2010)

Date Lender AmountDue Date

July 30, 2009 JIIL $ 1,080,000 December 17, 2010

August 25, 2009 JIIL 1,500,000 August 25, 2010

September 23, 2009 JIIL 2,000,000 September 23, 2010

November 16, 2009 JIIL 1,047,220 November 17, 2010

December 10, 2009 JIIL 620,948 November 7, 2010

December 17, 2009 JIIL 571,469 November 7, 2010

January 15, 2010 JIIL 1,040,431 December 17, 2010

February 3, 2010 JIIL506,904 November 17, 2010

February 5, 2010 JIIL 3,000,000 February 5, 2011

June 7, 2010 JIIL 800,000 August 17, 2010

June 30, 2010 Officer13,500 July 5, 2010

12,180,472

Accrued interest on promissory notes 373,242

Notes payable and accrued interest at June 30, 2010 $ 12,553,714

Also

Excerpts from Summary of Consolidated Financial Results says;

(page 6/18)

Revenue – $7,352,163

Site Operational Cost – $ 6,643,647

Operating Loss - $ 1,821,553

Loss for period - $ 4,973,180 the bottom line

The above loss for period of 4.9 Million dollars values are what the market truly cares about and have voted with their feet. Sorry to break it to you pal but it is the way of things. On top of all the legacy debt obligations the prognosis for LBE is poor

So much for “me” being the slickster, there it is in black and white. Loss on top of loss does not make a company I would invest in.

Cheers

ebf