Not sure if anyone is active on this board, but here is the contents of an email I received in response to a few questions I asked.

For sure the Iron Ore industry has been impacted by global conditions, but the inherent cyclical nature of the industry almost dictates a rebound, hopefully sooner than later. It appears that CLM is positioned fairly well and could be a bargain at present.

Pete

(1) Is the Bloom Lake project still moving forward? Is the target production date still Sept/09?

The Bloom Lake project is still moving forward and the target production date is still September 2009. You will find on our website (http://www.consolidatedthompson.com) pictures of current activities and progress to date. However, we do require additional financing to complete the development of the mine and start production. Based on our current development schedule we should have sufficient cash to take us into the second quarter of 2009. We are working aggressively to secure this financing in time to allow us to maintain our current schedule and we remain cautiously optimistic that we will be successful in getting the required financing.

(2) In view of current market conditions, for example Wabush Mines and IOCC recent announcements, is it realistic to expect CLM to continue as planned? Why?

We do feel it is realistic to continue as planned, despite the current market conditions. Based on the latest feasibility study, the Bloom Lake mine will be a long life mine with relatively low capital costs and a short payback period even at iron ore prices significantly less than the current benchmark price. The feasibility study estimates operating costs of approximately US$25 per tonne concentrate which would make Bloom Lake a relatively low cost producer.

(3) Now that there may be significant numbers of laid off miners in Labrador West, will CLM use this pool of workers at their site?

One attraction of the Bloom Lake project has always been its location within an established mining camp with a long history in iron ore mining and an experienced workforce. Our intention has always been to take advance of this experience and to hire locally as much as possible.

(4) Finally, where do you anticipate your sp will be in the next 6-12 months?

I assume by “sp” you mean spot price and we do not have a prediction of where the spot price will be in the next 6-12 months. However, with three major iron ore producers (Vale, BHP and Rio Tinto) controlling well over 70% of the seabourne iron ore market and the quick actions of these producers to reduce supply and capital expansion projects in response to the drop in demand, the floor set on the iron ore price will hopefully remain well above Bloom Lake’s expected operating costs.

Brad Boland

CFO