Agreed Digger - especially with the financing, sounds like we really got a bum deal there. My impression of the situation is that we're really just stretching the timeline way out. What we thought would happen this year has moved a year or three down the road.

Sometimes I wonder if MRC will ever make money, seems to lose money under either bad or good conditions. That too should change this year though, I believe. Good explanation in the report about the worth of the asphalt inventory losing value last quarter.

The currency problems really seem difficult to manage. I think dondon may have expressed some frustration with this also.

Good news, your number of 358M to finish Algar is high ... 358M was close to the original planned total. "We estimate that it will require approximately 275 days and approximately $209 million of capital to complete the project once a decision to resume construction is made."

Also

"To date, we have invested approximately $150 million in Algar, the total cost of which had been financed in late 2007 and was estimated at $345 million, excluding approximately $14 million related to the decision to suspend construction."