North Bay Resources Inc (NBRI)

[norcalgold]

NBRI "mining is a journey, not a destination." Wise words from our CEO. I emailed Perry this morning for clarification of past PR, specifically the loan due Feb 1 and what type of gold would be considered 'specimen' grade. He feels we are making it more of this than it is (he must read this Board ;) As we are aware, the gold can be repaid in cash or gold. The investor retains the right to select 'specimen' gold from what we mine eg "Beauty is in the eye of the beholder". If he don't like it, he waits and we simply sell the gold in the open market and pay cash. If it is repaid in cash, then the investor still retains the right to get the specimen gold at a later date, at which time he will pay us (again). So even if we repay the loan in cash or in part, the funds will still come back to us in the future when the gold is delivered. IMO the note will be paid back on time. If we pay cash, sure we pay that 10% interest, but that`s much better than more conversion. We all want to see gold and we will see gold. NBRI moving forward one step at a time.