Stage I was a necessary evil for Anvil to startup Dikilushi. It...

Stage I was a necessary evil for Anvil to startup Dikilushi. It kept costs low and therefore prevented dilution whilst at the same time providing cashflow. This cashflow enabled stage II to be completed. The unfortunate side effect is that basically all the copper pulled out of the ground during stage I is to pay for stage II. This of course also will mean interruptions to the operations as we switched from stage I to stage II hence the not unexpected last quarterly. So we traded having to issue more shares for a lower cost approach that takes longer to ramp up but will provide more benefits in the future, smart move in my opinion. I think what miningnut is saying now, and I'm sure he will correct me if I'm wrong as I don't want to put words in his mouth, that we now have sufficient cash flow to justify going in to new projects with a stage II approach to generate stable earnings from the start rather than a stage I approach which is really only a building block for the future not an operation.

Regards Duc