company update, page-2

Excellent update. Far better and more detailed information than was previously supplied by management.

CVR should take a look at what a good update entails. Thats another story though.

Given all the delays. I am very positive with the announcement. Given the expectation is now for 600 tonnes per week processing. This gives an annual through put of 31 000 tonnes. Of which half will be taken by new product from Alcoa and Sims.

The AL80 news is excellent as well. This should represent the first major shipment of this product we have seen.

The only disturbing part was the 25000 tonnes of product stockpiled. As I can see this being a major drain on finances for at least the next 10 months.

Overall a very realistic somation. May have to consider topping up especially if there is any irrational selling.