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

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

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Message: Re: Care and Maintenance.....
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Oct 30, 2008 02:34PM
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Oct 31, 2008 04:37PM
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Oct 31, 2008 04:42PM
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Oct 31, 2008 06:23PM

There is a very small chance that our shares will be worth anything in a few weeks. We owe quite a bit to our debtors, we're darn near out of cash and we will still have the cash outflow from care & maintenance. Unless nickel prices recover markedly in the next few weeks, our valuation as a mine will be lower than our outstanding debts and I don't expect that whatever we get from a sale or takeover will be enough to result in much, if any, return to shareholders. I'd be overjoyed to receive 10 cents per share. In a different market, our assets could be worth $100 million or more... but with mines worried about their own hides right now and conserving their cash, we'd be lucky to get a third of that (which won't even pay off our debt).

I remain cautiously optimistic but realisticly expectant of my LBE shares being expensive toilet paper.

Sigh. So it goes in the mining industry.


Oct 31, 2008 07:55PM

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