I just read that in the Australian jr.mining index, in the last two quarters, 135 companys have gone bankrupt. they expect a lot more to follow in the near furure unless the market improves.

The reason we were able to grab control of Carmax is they were starving for working capital. as we feed money in they need to spend it and, to me , it looks like we could own more in the coming year.

Without the JV we would be in the same boat and I think management did the best they could in the circumstances of the terrible market we've been experiencing for the last couple of years.

They spent 6 months negotiating and I think there's an underlying agreement that will address our future. all of the positives we've discussed, over and over in the past are still in place. we have no choice but to wait.....chunky