Ann: Weld Range Scoping Study Results , page-12

I thought the exchange rate in the assumptions deserved some discussion.

a venture like this would survive where the product is scarce or cant be produced overseas. however, without knowing where the worlds SS comes from, I am assuming that they are in a competitive international environment.

so when I consider the long run effects of the FED expanding monetary supply to stimulate her economy, australia and china growing hand in hand; is it fair to imagine that when they are throwing SS out of the plant in 2015 that the exchange rate is going to be at the 80/85 they have used, or is it going to be much higher like 110?

I would think that demand will be quite sensitive to this 'small' pricing factor and should not be overlooked. obviously there are a number of other risks, and we are a long way away.

hell I will take that IRR of 23% anyday. DRA owning 40% of that looks very attractive.

SF