I think you forgot to past a piece ...

Financial results for Q4 2008 (3 months):

The Company's revenue for Q4 2008 was $20.7 million from the sale of 22,825 ounces of gold at an average realized price of $908 (2007 - $3.5 million from 5,922 ounces sold at $590 per ounce).


Net loss for Q4 2008 was $14.8 million (2007 - $13.0 million). Main contributors to the loss in Q4 2008 were the impairment of mineral properties of $19 million as mentioned above and $3.3 million in unsuccessful acquisition and litigation costs related to the unsolicited take-over bid made for Gold Reserve Inc. which more than offset an income tax recovery of $4.6 million and foreign exchange gain of $2.5 million recorded in Q4 2008.

My commentary: Take away the $19 million one time impairment charge for the properties and the $3.3 million for the unsucessful aquistion (both one time items), you actually have a profit of $7.5 million. From that you take away the $4.6 million for the tax recovery and the foreign exchange gain $2.5 (also a one-time item) ... and the company actually made $0.4 million in Q4 2008. Good things to come for Rusoro, based on their Q4 results ...