Whaler and animal, in a way it is a positive for us that we are dealing with a major seller IMHO. It is not all sorts of people selling but maybe possibly an institution. It has certainly presented a buying opportunity. Mar 31 last year was when we did our year end financial statements. I will assume this year it will be the same story again this year.

I talked to Gary last week and we talked about the financials. I was concerned about them like most of us have been. Last quarter will be our worst one because of the huge writedowns we took. If you look at last quarter we did the Redstone Mine write down. This quarter we have had few salaries to pay (because of the shutdowns and layoffs) and few expenses to claim. Minimal amounts would have been ordered to support our operations. We have seen some revenues (The particulars I do no know) but we have seen the GST rebate on our nickel sales. (If you go back to when we were selling our Ni we were selling at dropping Ni prices and when we sold we paid tax on a higher Ni price then when Xstrata settled our accounts at a lower Ni price). We have also sold some excess equipment (what I do not know). Somehow we are still in business. Gary talked to some of his suppliers at the PDAC and talked to some investors. I wish I could have gone too. Quazzy told us all about it. Thanks Quazzy.

We did not get to mine too much of McWatters and as we all know the mine is about 3 months away from full production. Very little of our resource has been removed so our resource will not be very depleted. It has been a real eye opener how much it costs to bring about a mine. So much work goes on that we as shareholders never appreciate. As an investor I just thought in terms of you get a resource estimate and then voila there is your mine. It is all your approvals that you need beforehand - the taking water, the environmental, the MOU with the aboriginals, then building a mine (winter is just not the time to start). Finally there is the economy. Now that has been an eye opener.

Government - we have been talking about this year's budget (2009) since last election. The sides still are working on getting this budget approved for this April and is now in the Senate. Amazing when we see this economic climate that all sides are still having trouble talking. We look at unemployment benefit rules that are tied up, emergency funding regulations, standard funding rules and everything is still tied up. Most monies will not get moving until July and the $3 billion dollar emergency fund is still being fought over. Are parties more concerned about one party actually doing something right at the expense of their own? The Conservatives have already said that there may be some abuses but for the sake of the many needy people they are working through the red tape. I hope they succeed because our country needs it!

Now we look at ourselves. I still believe the deal (whatever it is) will succeed. There is one thing that sustains me and that is the straight forwardness that Gary has dealt with me. I am not anyone special and yet he has always been straight with me. I cannot ask for anything else in this climate. I know the value I attach to our properties (feel free to read the dd done on so many past posts). My eyes wandered through the mining government sites and I have seen what have been done on these properties. The money was not wasted - it went into building these properties. We got the mill ahead of time but the resource is there now to support it within months and the projects are there - with permitting and applications to progress projects to the next level. No one could have possibly seen how severe this disaster was going to be. I just believe that there is value to our company and that the Chinese know it too. That is why I still stay with Liberty. I don't post much anymore because who wants to read long winded posts every single day. I just still believe!