North Bay Resources Inc (NBRI)

[es1]

PL email string continued...

So after my last response I wrote PL back to explain I was not looking for fabricated news...
This board needed a dose of fact

Thank you for the fast response Perry,

I am sorry if I made it sound like I was looking for you to fabricate news. It was not my intention.
I understand that until there is a deal signed to finance the Ruby there is not much you can do or say.

But I am not looking at just the Ruby Mine.
Financing is needed for all the properties, but there were/are things in the works that we have not heard anything about like the HIA report status on the Fraser project. As far as Ruby goes we may not have info about what is going on in the future, but there are things in the past that we were told but had never been updated on, like the engineering work that needed to be done to the black channel raise to make it safe. Was that ever done?

Any of this information would allow the shareholders who are stuck with huge losses a chance to at least take a breath and feel like there is hope.
As it stands now people are looking at the 10k and thinking the Ruby is going to be taken since we didn't have the lease money in the 10k and we have not sold shares for the cash to make the payments.

This is why I say just about anything would raise the VWAP and only help with the debt.

If the shareholders feel a little hope they will support you. But the silence is feeling hopeless not frustrating

PL response... Might just set a few things straight...

No problem. I understood that is not what you were asking for. I just wanted to reiterate that is not something we would do just to try and influence the market. I know other companies do that, but we don't.

We are trying to secure a comprehensive financing deal for everything, not just the Ruby, though the Ruby is a keystone to any deal since it is so close to production. As was stated in the press release I noted at https://www.accesswire.com/425992/North-Bay-Announces-Completion-of-Reverse-Stock-Split we have cutback on ALL projects to conserve cash, including Fraser River. FYI, it will cost approx $50K to pay Golder to complete the HIA report. Golder does not work for free, and while the government ordered the report, they are not paying for it. That is our responsibility. If there was absolute certainty that the report would receive a favorable judgement from the government we might have justified incurring yet more debt to pay for the report. But the outcome is not guaranteed, so after weighing the risks we put it on hold until a comprehensive funding solution for everything is in place. When we said last October that we expected the report to be completed before the end of the year, that assumed we would at least continue to have access to our equity line with Tangiers to pay for such things. But when our stock cratered in November it made the use of even our equity line unavailable, as we were not allowed to register more shares with a share price so low. The reverse split was intended to get our share price back over 1 cent so the equity line could be used again, but someone came in the very first day the R/S was effective and slammed the bid, and we've been below a penny again ever since. Very aggravating, to say the least.

re: the raise into the Black Channel ... Our press releases last October stated the raise into the Big Bend section of the Black Channel was still yet to be completed at the time we decided to shut down for the winter, so that still remains a priority to complete when operations resume. It is impossible to provide an update until work resumes, as no work has been done since last October.

fwiw, our 8-K last week disclosed that we received the next anniversary payment from Ximen on the Brett property. Revenue should be good news, as well as the news the option is in good standing, which will lead to an additional $300K in revenue over the next 18 months. But it was greeted by the sound of one hand clapping from shareholders. No one seems to care about anything except getting rid of the convertible debt. We understand that, and I am doing everything I can to make that happen.

Thanks,

* P

So nothing has happened since October. NOTHING

We can stop talking about Fraser and ruby and everything else. The company needs a finance deal. Till then.....

One thing. The PPS MIGHT

be allowed to climb.
If they continue to dump the PPS they wont be allowed to convert and they lose their cash cow.

Could see an ease to dilution until the PPS is able to climb. Should find out in a week or two.

Wont make a good investment out of it but timing a trade could make some cash if I am right.