NORTHERN SUN MINING CORP LBEFF

RE: RE: RE: John E S

[JohnEStromJr]

drillbit,

Actually, Liberty Mines should be able to begin repaying Jilin Jien and open Hart as well.  

I sure hope that they do as what got Liberty Mines in trouble before was trying to do too much and holding off paying down on their debt hoping that somehow they would be able to get rolling and increase revenues.  Didn't happen and I hope they've learned the lesson that those loans should be repaid each month a bit at a time so that when the magic day arrives they aren't faced with a huge shortfall and unable to make it up.  The most pressing is the $5 million due in July but they also need to pay down on the [roughly] $10 million for the 51% interest stake in Liberty Mines and the interest due on those convertible preferred shares.  If they have surplus over and above what's needed to open Hart they should begin paring down that [roughly] $20 million for those convertible preferred shares as well.  Surplus above that and they should continue exploration drilling and sinking the shaft at Redstone but priority must be in retiring dept AND getting a new source of ore which is to put Hart into production.  

If a concerted effort is made to reduce the debt the stock will take off.  If they wait until the loan is due they once again risk disaster which could come anyway.  This is NOT a very stable world right now nor are the economies of the major countries that robust so reducing Liberty Mines financial exposure should be pretty high on their agenda. Hope it is.