As of the end of Sep Revenue was nil in Mar, nil in Jun , $3,712,715 in Sep and $7,682,377 in Dec but in Jun we repaid 1,913,900 and in Mar we repaid $2,572,890 to the Chinese.

That meant we owed nothing on the mill after that. Our mill did not get commissioned until Sep so the last quarter we cleared the stockpile and mined Redstone.

Now at the AGM meeting last year, it was announced that they were going after the high grade ore in McWatters and this meant some re-engineering of their plans. Originally McWatters was going to be an open pitt design to begin with. Press release 7 Dec 2006

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There was also some hype going on. FNX was having a record breaking year and they were showing a zero cost of production because of byproduct credits. Our Mill was being built. The Jordan Fund was hyping us as the next FNX. The whole mining sector was hot - hot.