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

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

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Message: Corporate Update

Re: Tantallon

in response to by
posted on Feb 24, 2009 07:50AM

The delays cost us millions in cash that we were unable to generate when nickel prices were higher. Whatever the reasons/excuses for the delays are, the fact is we missed an opportunity to sell more nickel at $10+ prices and generate significant profits and cash to pay off all or some of our debts (in fact, we wouldn't have had to go to market for most of that debt in the first place). 6 months doesn't seem like much, and normally it isn't, but in this case it means many millions of dollars of missed opportunity. While I don't personally fault Liberty's management for the delays, I can certainly appreciate why some people feel that way, as those delays contributed significantly to the potential loss of their investment in this company.

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