good quarterly report , page-7

Loki01,

2.8 million in cash and 17.4 million in receivables makes 20.2 million and probably another 20 million in concentrate yet to be invoiced, they state that the yet to be invoiced was worth 40 million at the end of Sept so halving it's value to twenty should make up for the drop in metals since then, that makes about $40 million all up, a bit more than the 2.8 mil you allude to.

I did not hear you complain about our management before this crisis, when admiral bay was being touted by brokers as the company maker for Kagara, the company did what they had to do which was to drill it out to confirm it was a robust project. They have been approached by every major miner to joint venture this deposit so i would say it was not a waste of money.

You talk of poor decisions, that's easy to say after this meltdown has happened, I'm sure every miner in the world would have cut back on spending if they could have foreseen the collapse in metals prices.

Be fair in your criticism, it is easy to be critical with hindsight.

Kim was smart when he paid peanuts for a world class zinc deposit and he was smart when he purchased lounge lizard for 26 million, they had to be drilled out to progress the company, and there was no better time to do it than when we were making buckets of cash, only when an unprecedented collapse in metals prices happens do you come out and complain.

I suggest you put yourself forward as the next CEO or you could offer yourself as an advisor and show us how it is done.

Please don't take this wrong but you are being very unfair to probably some of the best in the business, they have an impeccable track record of building great companies.