Zeno, Probably curious that they are doing the coping study (as...

Zeno,

Probably curious that they are doing the coping study (as potentially the major customer as they are hardly at arms length) but then you could also argue that if Chalieco want the stuff then the scoping study might have a sort of 'bias' (to use a word) that ensure that they get it. However the latest announcement from SYR indicate that between 50 and 70% of their Va will be of the high purity type suitable for use in other than in steel making applications, so in effect Chalieco could end up with rather less product than they originally thought they might be getting. I wonder if this might then bring a little tension in to Chalieco's approach in that they now know they can't do a snow job on the Scoping study, and also if they are doing it for SYR's benefit, as we might assume they are doing so, then Va going out as high purity is going to be much more rewarding to SYR than if they only produce Va for steel making.

So whilst you appear to be querying the merits of Chalieco doing this study it may well turn out to be a very interesting document for the company to study and evaluate.

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