Agoracom: Small Cap Investment - Liberty Mines Inc - Q2 Results

Ni, Co, Cu, PGM, Au Properties in Ontario Canada

Producing Mines and "state-of-the-art" Mill

Dear Agoracom Family,

I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.

As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.

To this end:

1.We have identified 8 fundamental but easily fixable flaws that will be corrected in the coming week, so that you can continue to use the forums exactly as you've been accustomed to.

2.Additionally we will also be implementing a couple of design improvements to "tighten up" the look and feel of the forums.

Sincerely,

George et al

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tantallon

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Q2 Results - YIKES!!!

posted on Aug 15, 2012 07:00PM

Just when you thought it could'nt get worse the bottom then falls out. Seven dollar nickel is not the problem. This company could'nt make a profit even at $10. The company lost 5 cents a share and is only worth trading at 4 cents. And that was a quarter with full production. I was even looking for a token profit, some sort of cash flow positive situation.

But the operating expenses far exceed the gross revenue alone. Deduct that $2,500,000 of debt interest and another $300,000 of preferred dividends owing. There's no way this company will ever see the sunshine as a public company ever again.

Whats even worse than the Q2 results are the debts being rescheduled. Just weeks after Jilin agrees to extend the debt owing out to 2019, the original terms are back in force. The first tranche of debt is due this Dec. 31, 2012. Again.

The only thing left to do is for Jilin to call in the debt and privatize the company. Take it public and wait it out. Some said that was the Chinese plan from day one. I discount that greatly.

One thing is clear, Jilin had enough. It is now up to them to put this company out of its public misery - IMO.

Best,

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