I always find it interesting how it is so easy to criticize and have the instant solutions.

The problem as I see it is that previous management didnt have their act together. They let the company essentially runout of throughput in Manitoba and made a bad investment in central america ( which was sold at a big loss). I was a big investor in Norsemont and have stayed with HBM as I do see that Garafalo is doing all the right things.

The Peruvian investment is in an area with significant upside potential such that I fully expect the plant under construction to be still running in 40 years. As to 9.5% interest - I am not sure where that figure comes from - but the reality in mining today is that it is very difficult to borrow- and remember back in May HBM did put out feelers. As I have commented before if one feels that Silver Wheaton got a sweetheart deal then the answer is to buy Silver Wheaton!

HBM is continuing to explore in Manitoba - but the comment that there are plenty of mines waiting to be developed is one I would like some information on as I am not aware of these large properties waiting for economic development?

Mining is a very difficult business that needs 3 things ; Resource-  both in the ground but also potential in the area! Second is money and this is hard to come by but HBM has done the right things in weighing off risk and costs. Lastly is management and on this one I am impressed with the board and sr management - so far they seem to be doing the right thing.

As to pay of $1.5 million + options= this is peanuts if the guy gives the right direction and execution of the strategy.

Possibly you should have sent in your CV- together with a suggested strategy for the company.!?

In my mind the big bet is what will happen on a global basis- will the Chinese economy falter? and will the demand to copper drop such that the price is back to $1? I dont think so  but I could be wrong.

If one wants a risk free investment then the company should have been liquidated and the cash paid out and then one could invest in GIC's and watch your investment drop in value since this current  "quantitative easing" is just printing money and in such situations resources and other hard assets are usually the right place to be- remember Germany in the 1920's = pretty soon we may see a repeat and as inflation climbs copper in the ground grows in value.

Thats how I see it!



PS I would be interested if you could let us know where these economically viable large deposits are in northern Manitoba??