Ann: Fenix Enters 12-Month Hedging Arrangements, page-42

I am happy with this announcement. It wont take affect for over 2 months so we will enjoy the juicy quaterly profits.

So we could still be looking at 40 to 50 million profit for that quarter.

Then now with this deal we have locked in a profit of around 20 to 40 million per quarter unless IO prices average below 100 USD per tonne which I feel is very unlikely.

So assuming we can just keep producing even without the small expansion of production, At a 18 to 40 cent per share profit.

Not a bad investment at all and one must look positive at the long term IO price staying at more like 120 to 150 USD.