Facts versus FictionThere are suggestions that ISM will have an NI43-101 by April. There is no basis for this suggestion. On Langmuir 1, they haven't even applied for the permits and certificates they need to begin dewatering. First the information for applications and the planning must be completed and the applications prepared. Once applied for, the permitting process requires time to allow any public input, then more time for the approval process. After that's done, dewatering can commence, and after dewatering then the deeper drilling can commence. After the drilling program is complete and the assay results are back, then the independent firm requires time to prepare the 43-101. So lets say its for simplicity, its a five step process. ISM has admitted that they expect to have step 1 done by Spring. So as far as Langmuir 1 is concerned, they may get a NI43-101 that includes the deeper zones in 2009; if they go for a preliminary 43-101 it may be in 2008, but they've given no indication of this. My hunch is they don't want a preliminary one, because expectations driven up by their PR effort would be so badly deflated the stock price would plunge.
As for Langmuir 2 and the suggested open pit prospect of Langmuir North, there's the same problem. They may be able to have a NI43-101 completed, at least in the preliminary stage - but the results would likely be disappointing. The NI43-101 would take into account certain access and recovery problems, and would deflate the resource estimate done by the promotion firm so badly, that the stock price would be under pressure. The thing that may result in ISM facing reality and doing a NI43-101 or preliminary 43-101's, is that their failure to get on with this to date will continue to drive their share price down - and they may say, what the hell - we can't get hurt any more - let the public know we haven't got what they were lead to believe by those PR efforts.
So that's the story on ISM, and the contrast with LBE is like black is to white. LBE is not only forthright to its shareholders, its hands on management team includes mining people. They have, in an unbelievably short time converted a nothing company into a profitable producer. The information they provide the market and shareholders is not dressed up for the sole purpose of promoting short term stock price, its provided with the expectation it will be a factual accomplishment in the timeline stated, or the reasons disclosed. ISM on the other hand cannot even provide a plausible reason for postponing their AGM.
The pumpers can come on this forum, with their lies, misrepresentations, ignorance of mining, markets and finance as much as they want. The thing they can't do is change facts - and facts are what's going to result in LBE running away from ISM, within the near future. The two companies will then not be compared, the ISM supporters will not be here bashing, because they will have been identified as the fools they are - and will be too embarrassed to face the music. LBE supporters will be absorbed with watching the continued progress of a profitable growing mining company - ISM to them, will just be one of that group with some small prospective land holdings in the area, hoping for a producer to come along and make their holdings worth something.