NORTHERN SUN MINING CORP LBEFF

RE: the College Boy's Idle Idol

[victor2009]

doingthejob/aatozz/PVB (Pinheaded Vacuous Boor)

There was uneasiness by many when Gary Nash departed. He was known by many as a man of integrity, ability and dedication - open to any shareholder or interested party that was interested in LBE. No skeletons in his closet that might make you doubt his honesty and integrity. It will take some time for the interim CEO or a new CEO to gain the respect that Gary had earned - and it is unlikely that any future CEO will exceed Gary Nash's dedication, both in time and money. But whoever the new CEO is, he will not be some loose cannon running around dishing out money for non-mining gambles.

And in no way is the situation so bad that the company cannot prosper and reward all shareholders. The update that capped the equity involvement of Jilin Jien, and provided financing for the 2011 program gave some assurance that Jilin Jien is committed to making Liberty a player in this mining sector, and assurance that Jilin Jien sees the potential in the company, and intends to develop this potential as a public Canadian company. The company has access to debt financing, without being beholden to some cutthroat financial institution.
 
As a shareholder its a much more comforting position to be in than the company you are enthralled with. Your excited about a supposed mining company that's spent over five years accomplishing next to nothing on its mining properties. The company assets are gradually being depleted in administration costs, promotion costs with no benefit and generous compensation packages, and confusion reigns. A few million gone for a NSR on a property that may never be mined, a few million invested in another penny stock company that your CEO says is poorly managed, a low rate loan to an unnamed company with security that may be severely inadequate, a loss of office award agreement with the CEO that is open ended and could result in a huge expenditure if the the Randy Man departs under a number of potential events. And contingent legal liabilities that are admitted in general, but not described specifically. Scary stuff.

My reason for interest in LBE was the potential of mining nickel. I feel much more comfortable with a company that is guided by knowledgeable mining people, controlled by a successful global mining company, that won't put up with the confused antics that are prevalent in your penny ante conglomerate.

And whether it was Gary Nash, the interim CEO or the future CEO -  I won't be doing what you thought was necessary with Randy Miller - remember that embarrassing survey and your plot to straighten the Randy Man out at last year's AGM?