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

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

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Message: Update

I was just asking how things were going at McWatters. We are long holing a small part of the pitt for high grade ore. The richer panels are mined first before caving. Hopefully by next Friday we should start some of the caving.

The gravitational circuit at the mill is doing well. The most recent reading was about 24 gms per tonne Gold out of the concentrate. The normal average is about 14 g/t collected over a month. It should give us some nice change from Xstrata.

Net asset value of Liberty is about $1.12 based on $9 nickel. Our Net present Value for Hart and McWatters is about $174 million. This is based on Assets - Liab and divided by number of outstanding shares.

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