Ann: Syama Update and Guidance, page-17

Colin

That is something I am hoping that the Moose clarifies at the next conference call in October.

Its possible that they decided to put the two Syama process plants off-line for longer than 10 days during the lengthy negotiation period; note it was around 20 days between the two announcement in relation to union unrest. Once a plant is off-line it takes several days (weeks?) to get it fully operational again, especially the roaster.

Given how late in this quarter the announcement was released its possible there will be some residual negative impact on production in the next quarter. Since the size of a plant is one of the limiting factors in production, RSG will never actually recover its lost profits during the downtime, especially when you consider the negative impact on AISCs.

I also hope the Moose fully spells out what deal was arrived at and how this will impact costs. But I very much doubt he will deign to enlighten the great unwashed.

loki