This is a general comment for all those companies relating to the mining industry. Argex, although a technical company, still is affected by mining cost etc.

  Barrick yesterday announced results taking a huge write down on asset etc.What was most impressive is that they have halted all capital expansions other than their huge mine in Peru. This sent shock waves through the mining industry and all the suppliers such as CAT and others. The same is happening when Rio Tinto halt expansion in Quebec and CN halt the proposed rail line into the Labrador trough. Although this sounds horrible..it is ultimately good for smaller operators and miners. I think we are at a trough in junior miners. When the big boys cut back the way they have, the costs of mining eventually drop. Which ultimately makes illukas ilmenite cheaper and so on. The largest cost to Argex is that Ilmenite. Probably around $660/ton of the $1500/ton opex. This creates a larger margin for Argex ultimately. Bad news is good news in this case...