Well I guess we can all debate what the word "departed" means from the press release that removed Gary Nash entirely from the company, but that leads to nothing.

Quickly reviewing the Q3 financials this morning I personnally see no great improvement in the financials at all (as we were alluded to). In fact it looks like JIIL had to fork over a further $2,000,000 to keep things going on Oct 5th.

In fact it looks to me like the losses could have been much greater if the intangible earnings from "foreign exchange" and the "derivative" contract did not occur.

And as per yesterday's release there was a slight positive improvement in operating cash flow of almost $500k, but the expected revenue only covered the operating expenses by that amount.

The most interesting think is the Notes Payable listed in note #9 of the financial statements. Have your coffee first as the due dates and amounts seem to flip flop around and get changed. Bottom line is that amount owing has jumped from $12,553,714 to $16,706,370! And thats not discussing the Preferreds owing and Long Term Debt thats owed.

Which tells me that things are not really improving at all. As I said yesterday, the real issue going forward is what does JIIL do with this. Its more than obvious now that the funding for Hart development is not going to come from cash flow. So does JIIL throw more funds at this to develop that project? Maybe do a rights offering for all shareholders to share in that burden.

This is what I mentioned before and was laugh at, but McWaters is being depleted without any economic gain being made. Just as Redstone was doing for McWaters.

Now the Chinese have differing views on how to operate (since they are Communist, although I think Canada is moreso at times) so just how they view the continuing operations for the nickel and at what expense are they prepared to pay. Without them operations would have ceased long ago.

If I can speculate on yesterday's "shocking" news is that the $3,000,000 owed on Feb 5, 2011, is suddenly owed on Oct 17th, 2010. So we won't see what happened to that note till next quarter. All notes that came due were all extended it looks like - again. But I count 3 more notes payable than was loaned from June 30th. Really odd.

Should be another interesting day. Best