NORTHERN SUN MINING CORP LBEFF

RE: RE: RE: RE: RE: RE: Redstone & McWaters - wow

[quazzy]

Aatozz said "The original LBE shareholders really got screwed in the deal."

Sorry Aatozz.. but in all actuality it is the exact opposite.  As a 6 year shareholder.. I have to say.. I believe we were blessed with a White Knight as a business partner... and they enabled us to survive one of the worlds worst market corrections in history.

JJ could have easily taken their cash and invested it directly in Ni off the LME market at $4.. and now would have doubled their money.  Instead they took it and invested in LBE and more so.. Gary Nash's business savvy knowing they would be part of a growing mining company.  You have to respect JJ’s forward thinking of building a future.. not just making a quick buck.

 

JJ provided us with a low 8% interest rate at a time where it was virtually impossible to borrow money in the world markets and in doing so asked for the preferred shares merely as collateral as a back up in case we seen a double dip in the world markets (if Ni prices fell down below $5 again for an extended period of time… in which case most Ni miners would be forced to close their doors until the markets corrected).

 

LBE’s has met all its short term goals of re opening Redstone, commercial production declared in January at McWatters, permitting for third mine on its way.. new reserve and resource calcs released...and of course.. money is starting to roll in.  In addition LBE is implementing different mining techniques at Redstone and has doubled output.. and cut costs.  LBE has also proposed an electric rail system to exploit the deeper resources at Redstone to also extend mine life and cut costs.

 

Next we will see them begin to eat down debt and once again start up our exploration programs to add to our reserves/resources.  Knowing JJ owns 51% of LBE shares just reminds me of how safe this stock truly is.  What else can I ask for as a shareholder?

 

Quaz