Ann: Update on maiden shipment of Iron Ridge product, page-49

Well I tried a little lower, and I suppose it may still visit below, but I topped up a little at .24c.

I do see and understand the frustration some have expressed very clearly, but when analyzing the numbers, even with a 25% discount, (just my own vote of conservatism) this will still be a winner in the near term.

Short term issues;
The rust bucket (ship) Sino contracted, leaking oil.
Possible costs to unload the 5kt.
The likelihood that they will be pretty close to storage capacity at Gerro before the next ship arrives.

These will all add to the potential for some wavering of the SP, but being sooo close to the cash flow, I am very comfortable adding to my position, even though I become slightly 'overweight' FEX now.

GLTA

Cabe