Morning All;

My understanding is that some of the cost of start-up is already taken care of. Much of the equipment required for start-up has already been placed on order or already delivered to the site. This was done to prevent unecessary delays once the go-ahead for the project was received. Of course the need for funding still exists. But this company is in a good position as to financing. No dept ; revenues from the refinery; a unique position in the metals market;a high quality product once production starts; along with other things places this company in great standing and a great bankable position. And I'm certain that much footwork has been done in regards to financing the start-up of this project. No question though, that recent market conditions will play ia negtive part in the timing of the start-up. I'm a little discouraged that recent monetary inputs to bouy up the market has not yet spilled over or reflected in this companys SPs. But remember, until FCO receives the go-ahead for startup, this investment is still in a position of higher "RISK".

Brigand