Ferrymanau, look on the bright side. The business is changing to...

Ferrymanau, look on the bright side. The business is changing to a pure merchanting model. This is the second major structural change geared towards this.

The good news is twofold:

(1) The charges of $14M are being funded from existing reserves; and

(2) Something is happening from within.

The market will give its verdict soon.