NORTHERN SUN MINING CORP LBEFF

RE: DEBT

[Nickel77]

John,
 
I don’t think there were too many of us that were pleasedwith how our investment in LBE turned out. At the same time though, many of ushad the opportunity to sell our shares when the price was over $ 3.00 and $4.00 dollars.  To those that didsell,   LBE turned out to be a greatinvestment; so good on them.  
 
Those that didn’t sell, including me, got greedy and paidthe price by not taking anything off the table when we knew we probably shouldhave.  In my opinion, one can’t blameanyone but themselves for their losses.
 
Maybe if the price of nickel had stayed up, or the financialcrisis didn’t hit when it did, or the startup issues of McWatters ran smoother;things might have looked much different. Those are the risks we all take, and Iguess this time, it didn’t work out for us.
 
For those that entered the market in the teens and below,things don’t seem to look so bad. Sure, LBE has lots of debt, but so far Jilenhas kept its word and the management continues to move forward in getting theMcWatters Mine and Redstone Mill up to full production in the New Year. WithHart following around the corner and with many more drill targets to work with,LBE has very good odds of success in the future.  
 
In my opinion, if it were not Jilien, LBE would have beenforced into bankruptcy long ago and no one would have any chance to re-coup athing.  Investors in LBE have had theopportunity to get out with something since Jilen took the reins. Investorshave also had the chance to lower their average and obviously many shareholdersstill believe that LBE will eventually turn out to be a fair investment.  To them I wish them all the best. 
 
To you and all other LBE shareholders I wish a very MerryChristmas and Happy and hopefully Prosperous New Year.
 
Best
 
Nickel77