I know how everyone is feeling. You wonder if this company is ever going to make it to production. You wonder If you will ever see the Share Price recover. You wonder when you will make your money back. The sea of red is very hard to watch.

Do you sell now or do you wait 3 months that another quarter is done. A year ago we were all hyped up that the mill was opening and redstone was in production. We did not understand about shares being oversold or how the value of Nickel changed and the supply of Nickel affected things. We thought in terms of the price was still good and there was a real interest in this stock.

It has been a year of changes. Last year we thought McWatters was possibly going into production in Aug but the game plan changed. We saw delay in permitting but did not understand why. We saw the mortgage crisis start. Everything seemed to be OK until we had to go for more money. Then we really experienced the fear of not accomplishing the company goals. Everything has fallen behind. The mill happened so easily - what was the difference?

This has been a totally different year. We have seen our portfolios get slaughtered and nothing has been safe. The value of nickel has dropped so much. We have delays but now we are getting so much closer. Yes you can sell. Of course - but with a little more patience we will do better. Maybe not in the short term. I suspect we will see lower prices. We have all learned to be patient and if we are buying - we can wait for a disillusioned seller to sell. My question to you is where can you find a better place to make back your money that you are down? Are you going to be happy living with that much less money? I know I would not and that is why I am willing to wait. Maybe the price will drop lower and you can buy back your shares - maybe. Me, I will wait and I hope others will too. If the share drops more maybe I will buy more shares. Who knows.

What have we accomplished? So many things. In a year I have seen a mine and mill built, a resource in Hart proven up to the point of a feasibility study being worked on. McWatters soon to be done. An exciting property in Sothman acquired and is currently being worked on. Groves to be drilled. Galata, Carmen Township properties, Shaw Dome properties to be explored, Ray township property to be worked on. I think management actually has delivered. The one thing they have not done is meet all McWatters goals in a timely manner. It is really if you can accept their reasons. I can. I hope others can too. They are not perfect but these are not perfect times.