Mining Company research board

[Spanky227]

Your research is off on this one. There are specific reasons why they can't take advantage of traditional financing.

Did you take 5 minutes to read the NI 43-101 I sent you? Why would they pay to have traditional financing competed when they can spend half that amount money and just mine the gold?

NBRI has a unique set of circumstances and I am certain you have little understanding of their situation.

The mine they are taking over was less than half way mined out when WW2 shut them down mid stream. In the 90's another company moved in and invested $5M in equipment and labor getting the mine approx 90% completed to the level they could have mined profitably. But in 1998 gold dipped to sub $300 and their money ran out.

NBRI purchased this mine with 90% of the equipment and tunnels in place and in working order. Tunnels were almost completed to access the best gold back in 1998 and built by the previous owner. NBRI is now building a simple raise into the best formation from that tunnel and in 6-8 months they will be producing from that formation. No chance they mine less than 50,000 ounces from this formation in the next 3-4 years.

What you didn't bother to look into is they have 90% of the expenses to mine behind them.

You can't look at any company from 10 miles away and assume you know what's going on when you haven't spent 1 minute researching them. Your statement about if the market thought they had a chance they would be priced higher. I guess you live in a world where all companies are fully priced and never offer a chance to get in cheap. The world I live in every so often gives you the chance to make hundreds of percentage points very quickly when the majority of "know it alls" fail to do any research.

Again spend 5 minutes and read pages 85-87.

http://www.northbayresources.com/ruby/rubymine43101.pdf

Then after you have some clue about NBRI get back to me.