Quarterly

SP is drifting down, I don't expect that the quarterly will be spectacular.

Production numbers will be good but obviously CU price over the quarter will drag on the cash flow somewhat. I don't think they will realise much in the way of savings from grid power as even though TGS has done a good job getting their electricity infrastructure in place it sounds like the entire system is constrained. Hopefully this will be offset by lower Sulfuric Acid and Diesel prices.

I have been wrong in the past but something about the timing of the financing announcement and that we have not heard a peep operationally makes me a bit nervous about the quarterly.