I suspect to see only one or perhaps two PR's between now and August 11, or the time Cliffs makes an election for Decar, whichever occurs first. The first PR will be for the start of 2013 field activities at Mich and Wale. Mich will likely be first. After that we might get a second PR for a JV/financing at Wale, but only if that happens. FPX will let Cliffs make the next tactical move. I say this because it is quite clear to me now that FPX has received Davis Tube and other results from their 100% owned properties and are withholding this information for the time being. We can only hope that these results are positive, as the market seems to have concluded otherwise. No news is taken by the market as bad news. FPX should know this and should also understand the impact that withholding these results is having on their share price. Either these results really are bad, or they are good and FPX has taken a calculated decision to allow their share price to be trashed as a result of their strategy vis-a-vis Cliffs.