Wow the last couple of posts really have me scratching my head curious as to how folks who have done their dd can make such derogatory statements imo.

What did you guys expect with Q2 financials? Did you expect a sudden windfall of 'we have made bucketloads full of money'..that would be rather silly given that Redstone is still only producing roughly 200 tpd. To expect great things from Q2 imo is like expecting the moon to be made of cheese (well Wallace and Grommet fans might argue with me on this one ;)

Going back to the LBE basics as I see it:

1./ Preproduction at McWatters is slated to start in September (not too far away).

2./ Full production at McWatters is slated to start in December (also not too far away).

3./ US$ is starting to increase and Nickel inventories are starting to decrease which 'should' mean higher nickel prices (Thanks Drillbit and Whaler for related articles).

IMO Gary Nash and the others are doing a good job at keeping us informed and updated, at aggressively bringing 3 mines into production (as stated in NR's).

I haven't had a chance to read Q2 financials but am not expecting too much of a difference from Q1. Q1 covers January February and March. Q2 covers April May and June. Q3 covers July August and September and Q4 will cover October November and December. I am guestimating that Q3 will be on the books somewhat better the Q2 once preproduction is happening and then Q4 (assuming that full production has happened to be better then Q3).

I am expecting (once again assuming that full production is reached in Q4) that Q1'09 will be much better.

Am I happy with current shareprice? To average down my purchase share price - yes. Did I *ever* think that the sp would get this low again - nope can't say that I did. Did I think that there would be a credit fiasco in the States which then would have a HUGE ripple effect on the market - nope couldn't have seen this one coming. Did I forsee some changes in the LME rules for nickel inventories? Nope didn't see this one coming either.

I can certainly understand folks disappointment, frustration and general angst - if one wanted a 100% secure investment this is what T-Bills and GIC's are all about.

Happy Trails,

-B1-