Well I agree with Deme on this one. Management inherited some...

Well I agree with Deme on this one. Management inherited some contracts that were not ideal for JRV.
They let them play out and lost a heap of money.
They have been renegotiated now I believe and at the same time costs skyrocketed with respect to the chemicals needed for production as well as their energy costs.These costs have come down dramatically over the last 2-3 months which will enhance the bottom line.
Management are looking for a more long term stable Cobalt price going forward. Profits are really only on the refining side of Finland overall but we need the Cobalt price to increase to at least $25/lb to get some production going at ICO. If management had concentrated on the Brazilian Refinery which was there first purchase in the beginning then JRV would have been in a totally different position today even if they had only started the Nickel side up. Hopefully our management have learnt something from all that has happened and move forward to get our company going properly.