Jerry,

indeed I do not come from anywhere near Brooklyn. Please excuse my limited English; my Russian is much better. ;-)

I have studied the Harris process from what has been published and what is available on Starfield's homepage. In my opinion a process like this has a couple of significant cost advantages over existing processing routes. However it seems incredibly complex and whoever tries to implement it first will face soaring development cost. It is not clear to me if Starfield has any first-mover-advantage in case they go on with this.

Besides that it is surprising, that Vale Inco, BHP, Norilsk Nickel and other big players are not making any announcements on Chloride Hydromet approaches to low grade base metal ore processing. Are there any strings attached to moving in that technological direction? Are their predictions on further demand and price development too conservative to justify the investment in new processing facilities? Are they scared of repeating techno-commercial disasters like Ravensthorpe?

Starfields stock looks cheap compared to what the company can earn at Lake Ferguson when their process is set up and running. The big open questions are, why they report that little progress on process development and how they intend to finance the huge capital expenditure related to setting that thing up.

Regards

Hydro