Jeez, I take a road trip to Vancouver for a few days and the whole world threatens to melt down. I got in late last night and checked the computer, curious to know what the market did and nearly passed out in shock! I had expected that bailout bill to pass and see a healthy gain in the markets. Seeing nickel trade below $7 is extremely worrisome, especially with inventories continue to climb.

Regarding the financing announcement:

At the Edmonton meeting, Gary intimated that he'd be looking for a bridge financing of around $5 million or so to get us through to full production. How quickly things change.

I don't like the new financing, but in this climate, beggars cannot be choosers I guess. Still, the fact that we have now secured up all of our assets to Salman is disconcerting. At least before we had the comfort of knowing we had some value left in our assets if we couldn't manage to survive; now we know that failure will mean worthless shares and we know that we only have a year to reach success.

If nickel prices improve, we generate ample cash and the share price appreciates accordingly, then Salman exercises their 8 million shares at $0.20 and causes a 10% share dilution and decreases the value of all of our shares. But, it's a scenario that I'm sure we'd all be happy with at this stage of the game.

We have the cash in place, we've made the deal with the devil and in to full production we go. I sure hope nickel doesn't take an extended trip in to the $6 range. Owning LBE feels more and more like gambling every day.