Liberty Mines Inc

Ni, Co, Cu, PGM, Au Properties in Ontario Canada Producing Mines and "state-of-the-art" Mill

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Tantallon/EBF

over 14 years ago

over 14 years ago

over 14 years ago

Tantallon

The breakeven cost of Ni through the life of the mine is actually $5.80 (p128 McWatters Ni43-101).

What you say about the Statement of Cash Flows is correct and for now it still reflects a negative figure but you then have to look at what are some of the causes for this figure.

1. Redstone and McWatters were both being developed so development costs are still a large part of our expense and production figures are affected by this.

2. Revenue should be increasing as of Jun 2010 to reflect production increasing from 829 tpd to 1800 tpd.

If you believe in the positive side of the Lbe story then this is a great time to invest in Lbe because our cash position will be improving. Just think what our third quarter will be reflecting. 1800 tpd X 30 x LME