Ann: Appointment of New Company Secretary and General Counsel, page-22

True about the cash. I see the next shipment will leave esperance in the next few days. James bay is likely to be much bigger and require a lot more capital than initially thought. Having the cash flow from mt cattlin is certainly handy but capital and synergies with a processor will allow jb to be developed quicker. In any event we should know in the next few months. All indications are that there's lots of good news to come.