NORTHERN SUN MINING CORP LBEFF

RE: Nickel prices have dropped 25% in 3 1/2weeks!

[angler21]

Add to the Ni drop the ROE. Almost any feasibility report says a 0.75 dollar and we are sitting at almost par. This really hurts the bottom line - hence the need for financing and not depending on the profit of the mine to advance the project. During this time the bugs are being worked out, Redstone is being advanced as far as the shaft and McWatters the ramp is being done. In a way it is good that we are not selling that much of our resource at these prices. The mortgage credit fiasco in the States has certainly caused a jittery market. Bad news on the radio tells me we are going to have a bad day. Add to it tis the season for tax loss sales and two large bunches of warrants expired at 0.40 and 0.50 on the 26 Nov 07 and I can start seeing why we are appearing so bad. I am also confused if ISM is so great how is there property progressing towards being mined. We are very much an exploration property but simultaneously we developed the mill so we would not worry about the permitting, equipment when the resource was ready. So far this year McWatters is very likely going to be a 3 yr mine vs a 2 year mine of rich grade Ni. Redstone, we are expecting to be a 10 year life. Hart has been drilled up that it will very likely replace McWatters at the end of its life. The road has been done between McWatters and Redstone (Hart is between these two mines). I am pleased with the progress. Wish the price was higher but I understand that because we are not mining that much ore are bottom line is not supporting a higher price but come Mar our production is up another 450 tonnes per day and by the end of next year we will be up to over 1200 tonnes per day. I do not know ISM but tell me where it will be by the end of next year.