bigbucks888,

Is it management's fault that the nickel prices were trading roughly $25/lb and now are at around ~$13/lb.

Is it management's fault that the many folks in the States and in Canada have borrowed far more $$ then they should have - are living well beyond their means chasing the elusive "American Dream" because "they deserve it", and now have either declared bankruptcy, will have their homes in foreclosure or some similar scenario.   As a result the financial arena in the States almost came to a grinding halt and in the process many sectors have taken a huge tumble.

Is it management's fault that that there was roughly a 3 month delay (as I read from a nr) to McWatters permitting?

Am I happy that the current share price is as low as it is? Nope can't say that I am however from my perspective the fundamentals of the company haven't changed.  The company is aggressively moving forward with their exploration of various properties, bringing online 3 mines and looking to acquire more properties (all of this has been stated numerous times in NR's).  

In My Opinion management is creating value for its shareholders - according to the most recent MD&A the assets of the company currently work out to roughly $1/share.  The company is also bringing in roughly $1M/month with production at 166 tpd ... with the latest nr it was roughly 216 tpd ... either late May or early June production tpd will be increased which will result in greater cash flow.  By November/December production will be at 1,500 tpd.  This is my understanding of things.  

Most certainly there have been delays and hiccups along the way - as there are with many start-ups.  The road isn't linear more helter skelter.  I am a thinking back to a personal example of when myself and my hubby re-did our kitchen - we tore down everything and re-built it from scratch.  Needless to say we were WAY over budget on both time and money.  Did we stop when the projected budget ran out and said 'that's it we are done - this kitchen just isn't worth it' ... nope we scaled back on our efforts until we could continue on with the remodelling of the kitchen.  In the end it took us much longer to build the gourmet kitchen and much more money then we had originally anticipated but the end result was that we had a beautiful gourmet kitchen which was a delight to cook in.  A couple of  years later we sold the house - along with the gourmet kitchen to a gal who used the stainless steel double ovens to re-heat store bought pizza (that was disheartening to discover).  

Using the same kitchen analogy in comparing it to LBE - as things have changed and demands increased so has the projected budget for both time and $$$.  Instead of LBE just focussing on bringing Redstone into production they are also focussing on bringing McWatters and Hart into production as well.  More property acquisitions.  

In an ideal world more financing would not have been needed - permitting would have happened sooner then later and we would be in a far better position then we currently are.  However from my observation management is staying true to its word and moving forward and bringing 3 mines into production.