Toll Treatment, page-25

Newmarket should delay, delay and then delay negotiations some more. Say, for about 8 to 10 months, all the time watching AHK's SP fall as investors get impatient. Unions Reefs is the only mill in town and AHK would struggle to build one themselves. Newmarket should not sign any toll treatment agreement and then snap AHK up for a song. It's a good alternative strategy. The works been done, MMP in place and paid for by others. Newmarket needs to be aggressive (or are they there already?). Take this opportunity. If there are sharks in Newmarket's ranks, go for it! Golden opportunity to secure mill feed and increase profit margins. It's too obvious that they wouldn't be looking at it already and maybe they are. They've got all the time and all the right cards. Be careful AHK holders.