toll treatment, page-4

Not reading the statement correctly PT, the Toll Treatment agreement does not run at a loss.

It simply says that the mining, exploration and development costs for the 33 days while toll treating for La Mancha was more than the revenue generated by the Toll TReating. If FML were to halt mining, development and exploration during the period that they were toll treating, there would be a positive result of ~$3m for the toll treatment. Not really sure what that works out to per tonne but does indicate that the toll treating itself is profitable.

So this is the kicker, instead of stopping the promised aggresive exploration, mining and mining development while toll treating, they simply forged forward and delivered an increase in reserves and resources for the quarter as well as significant development and stopeing at Tindals and The Mount.

This is how I read it.